“Public Sector Banks Achieve Record Profit of Rs 52,603 Crore in Q3, Driven by SBI’s 24% Growth”

In a significant financial milestone, public sector banks (PSBs) in India, spearheaded by the State Bank of India (SBI), have reported an unprecedented cumulative profit of ₹52,603 crore for the third quarter of the current fiscal year, marking an impressive 18 percent year-on-year growth. This collective achievement by all 12 PSBs reflects a robust performance, as they collectively earned ₹44,473 crore during the December quarter of FY25, showcasing an increase of ₹8,130 crore compared to the same quarter of the previous financial year. The market leader, SBI, played a pivotal role in this financial success, contributing a substantial 40 percent to the overall earnings, according to the data released on stock exchanges. SBI itself recorded a remarkable quarterly net profit of ₹21,028 crore in Q3 FY26, representing a 24 percent increase over the corresponding period of the prior fiscal year. Notably, in terms of percentage growth, the Chennai-based Indian Overseas Bank achieved the highest net profit growth rate of 56 percent, reaching ₹1,365 crore. This was closely followed by the Central Bank of India, which reported a commendable 32 percent rise in net profit, amounting to ₹1,263 crore. The impressive performance across all 12 public sector banks during this quarter underscores their resilience and strategic initiatives in navigating the challenging economic landscape, reinforcing their critical role in India’s banking sector and contributing positively to the national economy. As the fiscal year progresses, these results not only highlight the financial strength of public sector banks but also signal confidence in the Indian banking industry’s recovery and growth potential.