Highest increase in deposits of SBI, Bank of Maharashtra, 10 government banks registered less than 10% growth
Deposit: The total deposits of SBI have been Rs 45.68 lakh crore, which is more than 18 times compared to Bank of Maharashtra's Rs 2.46 lakh crore. Deposits of the Central Bank of India have increased by 9.53 per cent and deposits of Punjab National Bank have increased by 9.10 per cent.
Bank of Maharashtra and SBI have been at the top among public sector banks in terms of deposit growth in the December quarter. The deposits of the remaining 10 banks have increased by less than 10 per cent. Bank of Maharashtra's deposits have increased by 17.89 per cent and SBI's deposits have increased by 12.84 per cent.
The total deposits of SBI have been Rs 45.68 lakh crore, which is more than 18 times compared to Bank of Maharashtra's Rs 2.46 lakh crore. Deposits of the Central Bank of India have increased by 9.53 per cent and deposits of Punjab National Bank have increased by 9.10 per cent.
The increase in bank deposits has come from current savings accounts. Among bad loans (NPAs), the Bank of Maharashtra's net NPA was 0.22% and the Indian Bank's was 0.53%, which is the lowest. The net profit of 12 public sector banks in the nine months of the current financial year has been Rs 98,355 crore. It was Rs 104,649 crore in the same quarter a year ago.
PNB's profit had the highest increase of 253% while Bank of India's profit was up by 62%. Union Bank's profit has increased by 60 per cent. The profits of SBI, UCO and Punjab & Sind Bank have declined by up to 69%.
SBI said, due to an increase in salary and pension, there will be a reduction of Rs 26,000 crore in its profit till March. Due to this increase, its profit in the December quarter declined by 35 per cent to Rs 9,164 crore. A year ago it was Rs 14,205 crore.
Bank Chairman Dinesh Kumar Khara said it was decided to increase the salary by 17 per cent in the agreement with the employee unions. This is applicable from November. Due to this, an additional provision of Rs 7,100 crore had to be made in the quarter for salary and pension. Of this, Rs 5,400 crore is for pension. From 2022, some employees were getting 40 per cent and some 50 per cent of their last salary as a pension. Since then the matter was in the court which has now been settled.
