After a total net loss of Rs 85,390 crore in 2017-2018, Public Sector Bank’s achieved a profit a 1,04,649 lakh crore financial year 2022-2023.
In the Financial Year 2021-2022, these 12 PSB made a total profit Rs 66,539.98 crore, which has since increased by 57%.
Bank Wise FY2023 Annual Profit
| Bank | Profit(in crore) | Growth Rate |
| Bank Of Maharashtra | Rs 2,602 | 126% |
| UCO Bank | Rs 1,862 | 100% |
| Bank of Baroda | Rs 14,100 | 94% |
| Canara Bank | Rs 10,604 | |
| Central Bank of India | Rs 1,582 | 51% |
| Indian Bank | Rs 5,282 | 34% |
| Indian Overseas Bank | Rs 2,099 | 23% |
| Bank of India | Rs 1,582 | 18% |
| Punjab and Sind Bank | Rs 1,313 | 26% |
| Union Bank of India | Rs 8,433 | 61% |
| State Bank of India | Rs 50,232 | 59% |
Key Points:- a) Punjab National Bank is the only Bank that has a declined from the previous fiscal year. PNB’s annual net profit decline 27% from Rs 3,457 crore in 2021-2022 to 2,507 crore in the financial year ending March 2023.
b) During the last five financial years(2016-2017 to 2021-2022), the government invested Rs 3,10,997 to recapitalize banks. This investment will be made under the 4 R strategy.
4 R strategy:-
- Recognition
- Resolution
- Recapitalization
- Reform
