Finmin likely to meet heads of public sector banks on Apr 17, to review financial performance

New Delhi, Apr 7 (PTI) The finance ministry has called a meeting of heads of public sector banks (PSBs) on April 17 to review the financial performance of banks and discuss targets for flagship schemes of the government, including Jan Dhan Yojana and Mudra Scheme for the financial year 2025-26.

The meeting is scheduled to be chaired by Financial Services Secretary M Nagaraju.

According to sources, the meeting would also discuss the financial performance of banks during the financial year ended on March 31 and set the target for financial inclusion schemes including PM SVANidhi Schemes.

Public sector Banks (PSBs) have posted the highest-ever net profit of ₹1.29 lakh crore in the April-December period of the current fiscal year, marking an annual increase of 31.3 per cent.

The performance of PSBs has shown significant improvement on key financial parameters, like record net profit growth, improved asset quality, and build-up of adequate capital buffers, during the period under review.

The 12 state-owned banks recorded net profit growth of 31.3 per cent (year-on-year) to achieve the highest-ever aggregate net profit of ₹1,29,426 crore and aggregate operating profit of ₹2,20,243 crore in the nine months of the financial year.

Further, improved asset quality is also visible from a significantly low net NPA ratio at 0.59 per cent (aggregate net NPA outstanding of ₹61,252 crore), the finance ministry had said in a statement.

They posted aggregate business growth of 11 per cent (year-on-year), with improved aggregate deposit growth at 9.8 per cent. Total aggregate business of PSBs reached ₹242.27 lakh crore during the period.