All of the 12 public sector banks earned a cumulative revenue of about Rs 15,306 crore, registering a 9.2 per cent development yearly, regardless of poor exhibiting by giant lenders like SBI and PNB.
In the course of the April-June interval of the earlier fiscal, state-owned banks recorded a complete revenue of Rs 14,013 crore, based on quarterly numbers revealed by public sector lenders.
Of the full 12, three lenders — State Financial institution of India (SBI), Punjab Nationwide Financial institution (PNB) and Financial institution of India — reported fall of their income starting from 7-70 per cent.
Decline in revenue by these lenders has been attributed to Mark-to-Market (MTM) losses attributable to hardening bond yields.
MTM losses happen when the monetary property held are valued by the market at a worth decrease than the acquisition worth.
9 lenders have recorded revenue starting from 3-117 per cent throughout the first quarter of FY23. The best share development was recorded by Pune-based Financial institution of Maharashtra which earned a revenue of Rs 452 crore towards Rs 208 crore in the identical quarter of the earlier yr.
It was adopted by Financial institution of Baroda which recorded a 79 per cent backside line development at Rs 2,168 crore in comparison with Rs 1,209 crore a yr in the past.
Regardless of having witnessed a fall in its revenue, SBI remained the very best contributor to the mixed revenue of banks with Rs 6,068 crore. SBI alone contributed about 40 per cent of the full revenue. It was adopted by Financial institution of Baroda with Rs 2,168 crore.
Throughout 2021-22, the collective revenue of public sector banks greater than doubled to Rs 66,539 crore as towards Rs 31,816 crore within the previous yr. In FY21, solely two public sector banks (Central Financial institution and
Punjab & Sind Financial institution) reported losses, which dragged down the collective internet revenue.
Many state-owned banks after a hiatus additionally declared dividend within the final monetary yr. In all, 9 banks together with SBI declared dividends of Rs 7,867 crore to shareholders.
There have been collective losses recorded within the 5 straight years from 2015-16 to 2019-20.
The best quantity of internet loss was registered in 2017-18 at Rs 85,370 crore, adopted by Rs 66,636 crore in 2018-19; Rs 25,941 crore in 2019-20; Rs 17,993 crore in 2015-16 and Rs 11,389 crore in 2016-17.