Public Banks See Profit Growth Despite Setbacks

• PSBs hit record Rs 49,456 cr profit in Q2, a 9% YoY rise; SBI led with 40% earnings.
• SBI's Q2 profit grew 10% to Rs 20,160 crore, driving overall PSB sector growth.
• IOB profit surged 58% to Rs 1,226 cr, Central Bank of India up 33% to Rs 1,213 cr.

New Delhi: State Bank of India-led public sector banks posted a record cumulative profit of Rs 49,456 crore in the second quarter of the current fiscal, reflecting a 9 per cent year-on-year growth despite

two lenders reporting a decline.All 12 public sector banks (PSBs) together made a profit of Rs 45,547 crore in the September quarter of FY25. Thus, the increase in profit in absolute terms was Rs 3,909 crore as compared to the same quarter of the previous financial year.

Market leader SBI alone contributed 40 per cent to the total earnings of Rs 49,456 crore, as per the published numbers on stock exchanges.SBI logged a net profit of Rs 20,160 crore in Q2 FY26, 10 per cent higher than the same period of the previous fiscal.In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 58 per cent to Rs 1,226 crore, followed by Central Bank of India with a 33 per cent rise to Rs 1,213 crore.