Kochi: Public sector banks collectively recorded a profit of Rs 29,175 crore in the last October-December quarter with a growth of 65 per cent. Profit was Rs 17,729 crore in the same quarter last year. Consolidated profit was Rs 15,306 crore in the first quarter of the current year and Rs 25,685 crore in the second quarter.
The total profit for April-December of the current year is Rs 70,166 crore. 48,983 crore in the corresponding period of the previous year, which is 43 percent higher. It is also an advantage to record a good growth rate every quarter. In the first quarter, the growth rate was 9 percent. It improved to 50 percent and 65 percent in the second and third quarters respectively.
Bank of Maharashtra ahead
Pune-based Bank of Maharashtra was the best performer last quarter with a profit of Rs 775 crore, a growth of 139 per cent. UCO Bank (110 per cent), Union Bank (107 per cent) and Indian Bank (102 per cent) also posted profit growth of over 100 per cent.
Bank of Maharashtra is leading in capital adequacy ratio; 17.53 percent. Canara Bank is second with 16.72 percent.
Bank of Maharashtra is better in terms of non-performing assets as well. Gross non-performing assets 2.94 percent and net non-performing assets 0.47 percent. SBI is second with total and net non-performing assets of 3.14 percent and 0.77 percent respectively.