Economy - Reports
Public Sector Banks show strong performance in the First Half of FY25 with 11% Y-o-Y growth As on : 12-Nov-24  15:55

Union Finance Minister Nirmala Sitharaman held deliberations on a range of current and emerging issues with the Chief Executives of PSBs. The reforms and regular monitoring have addressed many concerns and challenges, and resulted in setting-up enhanced systems and processes for credit discipline, recognition and resolution of stressed assets, responsible lending, improved governance, financial inclusion initiatives, technology adoption etc. These measures have led to a sustained financial health and robustness of banking sector as a whole.

The aggregate business stood at Rs. 236.04 lakh crore (11% YoY growth).Global credit and deposit portfolio grew by 12.9% and 9.5% YoY, and stood at Rs. 102.29 lakh crore and Rs. 133.75 lakh crore respectively. The Operating and Net Profit for H1FY25 was Rs. 1,50,023 crore (14.4% YoY growth) and Rs.85,520 crore (25.6% YoY growth).

The Gross and Net NPA stood at 3.12% and 0.63% as on Sep-24 (Gross and Net NPA declined by 108 bps and 34 bps respectively YoY). The Capital to RWA assets ratio (CRAR) stood at 15.43% in Sep-24 against regulatory requirement of 11.5% PSBs have also shown significant progress in adopting new age technologies like AI/ cloud/ Blockchain etc., upgradation of existing digital infrastructure, putting in place necessary systems/ controls to tackle cyber security risks and taking multiple steps to provide best-in-class customer services.

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