SBI leads PSBs on profit line

New Delhi: Public-sector banks’ cumulative profit crossed Rs1.4 lakh crore in the financial year ended March 2024, recording a growth of 35 per cent over the previous year on a high base of Rs1 lakh crore. The 12 Public-Sector Banks (PSBs) together had earned a net profit of Rs1,04,649 crore in 2022-23.

Out of the total profit of Rs141,203 crore earned during the FY24, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on exchanges.