{"id":1242886,"date":"2023-02-16T10:41:19","date_gmt":"2023-02-16T05:11:19","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1242886"},"modified":"2023-02-16T10:41:50","modified_gmt":"2023-02-16T05:11:50","slug":"this-govt-banks-profit-increase-by-139-in-last-90-days-psu-banks-post-rs-29175-cr-profits","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/this-govt-banks-profit-increase-by-139-in-last-90-days-psu-banks-post-rs-29175-cr-profits\/","title":{"rendered":"This Govt Bank’s Profit Increase By 139% In Last 90 Days! PSU Banks Post Rs 29,175 Cr Profits"},"content":{"rendered":"\n

For the third quarter that ended in December 2022, public sector banks saw a strong 65% increase in profit to Rs 29,175 crore, with Bank of Maharashtra emerging as the top performer in terms of profit growth percentage. <\/p>\n\n\n\n

\"This<\/figure>\n\n\n\n

Quarterly results declared by the PSBs:<\/strong><\/p>\n\n\n\n

According to the quarterly results released by the PSBs, the lender with its headquarters in Pune saw a 139% increase in profit<\/a> to Rs 775 crore at the end of December 2022.<\/p>\n\n\n\n

BoM was followed by UCO Bank, a bank with its headquarters in Kolkata, which reported a profit of Rs. 653 crores, or 110% more than what it had made in the third quarter of the previous fiscal. The profit growth for Union Bank of India and Indian Bank was also greater than 100%.<\/p>\n\n\n\n

For the three months of October through December 2022, the net profit of the Mumbai-based Union Bank of India increased by 107% to Rs 2,245 crore, while the Chennai-based Indian Bank saw a 102% increase to Rs 1,396 crore.<\/p>\n\n\n\n

In comparison to the same period last year, all 12 PSBs collectively made a profit of Rs 29,175 crore in the third quarter of the current fiscal year, an increase of 65%.<\/p>\n\n\n\n

Cumulative profit earned by PSBs:<\/strong><\/p>\n\n\n\n

The cumulative profit for the first nine months of the current fiscal year for PSBs was Rs 70,166 crore, up 43% from Rs 48,983 crore during the same period last year.<\/p>\n\n\n\n

In the first quarter, the PSBs had a cumulative profit of about Rs 15,306 crore, which rose to Rs 25,685 crore in the third quarter of 2009 and Rs 29,175 crore in the fourth quarter of 2009.<\/p>\n\n\n\n

The first quarter’s growth over the same period in the prior fiscal year was 9% in percentage terms. This increased to 50% in the second quarter and 65% in the third quarter.<\/p>\n\n\n\n

As of December 31, 2022, BoM had the highest Capital Adequacy Ratio among PSBs at 17.53%, followed by Canara Bank (16.72%) and Indian Bank (15.74%).<\/p>\n\n\n\n

BoM and State Bank of India were in the bottom quartile in terms of gross and net non-performing assets.<\/p>\n\n\n\n

As of December 31, 2022, the gross NPAs reported by BoM and SBI were 2.94% and 3.14% of their respective total advances, respectively. For these lenders, the net NPAs decreased to 0.47% and 0.77%.<\/p>\n","protected":false},"excerpt":{"rendered":"

For the third quarter that ended in December 2022, public sector banks saw a strong 65% increase in profit to Rs 29,175 crore, with Bank of Maharashtra emerging as the top performer in terms of profit growth percentage.  Quarterly results declared by the PSBs: According to the quarterly results released by the PSBs, the lender […]<\/p>\n","protected":false},"author":26,"featured_media":1242928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[867,866],"class_list":["post-1242886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-govt-banks","tag-psu-banks"],"acf":[],"yoast_head":"\nThis Govt Bank's Profit Increase By 139% In Last 90 Days! PSU Banks Post Rs 29,175 Cr Profits - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/this-govt-banks-profit-increase-by-139-in-last-90-days-psu-banks-post-rs-29175-cr-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This Govt Bank's Profit Increase By 139% In Last 90 Days! 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