For the private sector banks, PPOP grew by 31.9% year-on-year to ₹60,976.4 crore while PAT rose by 36.6% to ₹38,228.6 crore.
Synopsis
According to an ETIG analysis, a sample of 29 banks reported record quarterly aggregate PAT of ₹72,646.5 crore and PPOP of ₹1,29,241.7 crore for the June 2023 quarter. On a year-on-year basis, net profit shot up by ₹67.8% while PPOP grew by 42.3%. Majority of the banks in the sample reported a robust double-digit growth in PPOP and PAT.
ET Intelligence Group: Aggregate pre-provision and net profits (PPOP and PAT) of listed banks hit a record high led by the public sector banks (PSBs) in the June quarter. Better credit offtake, improvement in net interest margin and lower provisioning for bad loans, all compared with the year-ago quarter numbers, were the major drivers of profit growth. According to an ETIG analysis, a sample of 29 banks reported record quarterly aggregate PAT
BY
ET Bureau
3 mins read, Last Updated:
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