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Public Sector Banks record highest-ever net profit of ₹1.41 lakh crore in FY24
The Statesman
|December 16, 2024
India's Public Sector Banks (PSBs) have achieved a remarkable milestone by recording their highest-ever aggregate net profit of Rs 1.41 lakh crore in the financial year 2023-24, the Finance Ministry highlighted in a release on Sunday.
Their Gross Non-Performing Assets (GNPA) ratio steeply declined to 3.12 per cent in September 2024.
The Gross NPA ratio of PSBs has witnessed a remarkable improvement, declining to 3.12 per cent in September 2024 from a peak of 14.58 per cent in March 2018, it added.
Further, demonstrating continued momentum, they registered a net profit of Rs 85,520 crore in the first half of 2024-25.
The Finance Ministry also noted that the PSBs have contributed significantly to shareholder returns, paying a total dividend of Rs 61,964 crore over the past three years.
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