Public sector bank's profit crosses ₹1 lakh crore: SBI has the highest profit of Rs 50,232 crore

Public sector banks' profit figure has crossed Rs 1 lakh crore in the financial year 2023, of which almost half is held by market leader State Bank of India (SBI) alone.
In the financial year 2021-22, all 12 public sector banks had a profit of Rs 66,539 crore, compared to which this figure has reached Rs 1,04,649 crore in 2022-23 with a growth of 57%. SBI has got the maximum profit of Rs 50,232 crore Y-Y with a growth of 59%.
Bank of Baroda has got a Y-Y profit of Rs 14,110 crore and Canara Bank has Rs 10,604 crore. Apart from this, Punjab and Sind Bank with 26% Rs 1,313 crore, Central Bank of India with 51% Rs 1,582 crore, Indian Overseas Bank with 23% Rs 2,099 crore, Bank of India with 18% Rs 4,023 crore, Indian Bank with 34% profit of Rs 5,282 crore and Union Bank of India with 61% profit of Rs 8,433 crore.
The net profit of Punjab National Bank (PNB) declined by 27% to Rs 2,507 crore. However, except for PNB, all other banks have seen good growth in net profit.
However, cumulatively in the last quarter (January-March) of 2023, PNB's profit has increased by more than 95% to Rs 34,483 crore. It was Rs 17,666 crore in the same period a year ago.
In percentage terms, the net profit of the Bank of Maharashtra (BoM) increased by 126% to Rs 2,602 crore. After this, UCO has got a profit of Rs 1,862 crore with 100% growth and Bank of Baroda has got a profit of Rs 14,110 crore with 94% growth.