Finance Ministry to meet bank CEOs to discuss Q1 performance
The Finance Ministry is set to meet public sector bank CEOs on August 20 to talk about how the banks did in the first quarter of the current fiscal year.
Led by Financial Services Secretary M Nagaraju, the meeting will dig into some impressive numbers—together, these banks earned ₹44,218 crore in profit, which is an 11% jump from last year.
SBI leads the pack, IOB sees fastest growth
State Bank of India (SBI) led the pack with a ₹19,160 crore profit—making up almost half of all profits and growing 12% over last year.
Indian Overseas Bank saw the fastest growth at 76%, while Central Bank of India and Indian Bank also posted solid gains.
On the flip side, Punjab National Bank's profit dropped sharply by 48%.
The upcoming meeting will take a closer look at what's driving these shifts across different banks.