PSBs Achieve Record Net Profit of ₹1.41 Lakh Crore in FY 2023-24

Public Sector Banks (PSBs) in India have recorded their highest-ever aggregate net profit of around 1 lakh 41 thousand crore in the financial year 2023-24. Meanwhile, the Gross Non-Performing Assets (GNPA) ratio has declined, dropping to 3.12 percent in September this year. 

This is a steep decline from the peak GNPA of 14.58 percent in March 2018. The Finance Ministry revealed that the PSBs have also contributed significantly to shareholder returns,



paying a total dividend of almost 62 thousand crore rupees over the past three years.

The ministry hailed this as a landmark achievement and said it reflects the sector’s robust turnaround, underpinned by a significant improvement in asset quality. It added that this remarkable financial growth underscores the sector’s operational efficiency, improved asset quality, and stronger capital base.