SBI powers PSBs to historic Q3 earnings of Rs 52,600 crore

New Delhi: Led by the country’s biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth. All 12 public sector banks (PSBs) together made a profit of Rs 44,473 crore in the December quarter of FY25. Thus, the increase in profit in absolute terms was Rs 8,130 crore as compared to the same quarter of the previous financial year.

Market leader SBI alone contributed 40 per cent to the total earnings of Rs 52,603 crore, as per the published numbers on stock exchanges. SBI posted the highest quarterly net profit of Rs 21,028 crore in Q3 FY26, 24 per cent higher than the same period of the previous fiscal. In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 56 per cent to Rs 1,365 crore, followed by Central Bank of India with a 32 per cent rise to Rs 1,263 crore.

During the quarter, all 12 public sector banks (PSBs), except Bank of Baroda, Union Bank of India, Indian Bank, and Bank of India, reported profit growth in single digits. Banks which reported more than 20 per cent improvement in profit aside from SBI are Bank of Maharashtra with 27 per cent increase and Canara Bank with 26 per cent rise in their profits. Those which recorded double-digit growth in profit are Punjab & Sind Bank at 19 per cent, UCO Bank at 16 per cent, and Punjab National Bank (PNB) at 13 per cent.