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Finance Ministry chairs meeting with public-sector banks after record profits
17 Aug 2025

The Indian Finance Ministry has scheduled a meeting with the heads of public sector banks (PSBs) on August 20.

The meeting will be chaired by Financial Services Secretary M Nagaraju. It is aimed at reviewing the financial performance of these banks for the first quarter of FY25-26, according to PTI.

The review comes after PSBs reported a record profit of ₹44,218 crore in Q1, an 11% year-on-year (YoY) increase.

SBI dominates earnings, PNB reports decline
Market leaders

The State Bank of India (SBI) led the pack with a whopping 43% share in the total earnings of ₹44,218 crore.

SBI's net profit for Q1 FY26 stood at ₹19,160 crore, marking a 12% increase from last fiscal's same period.

Despite other banks witnessing profit growth, Punjab National Bank (PNB) reported a decline during this quarter.

IOB and Punjab & Sind Bank lead profit growth
Profit surge

Chennai-based Indian Overseas Bank recorded the highest net profit growth of 76% to ₹1,111 crore. It was followed by Punjab & Sind Bank with a 48% rise in profits to ₹269 crore.

During the quarter, all 12 public sector banks (PSBs) except Punjab National Bank (PNB) reported profit growth.

PNB's net profit fell by a whopping 48% to ₹1,675 crore from last year's ₹3,252 crore for the same period.