The banking sector is likely to post good numbers in the fourth quarter that ended March 2023, and the total profit of public sector banks (PSBs) is expected to touch a record high of Rs 1 lakh crore in FY23, aided by the decline in bad loans and healthy loan growth.
According to a senior bank official, the country’s biggest lender State Bank of India (SBI) expected to earn a profit above Rs 40,000 crore in the financial year ending March 2023. In the first nine months of the previous financial year, the bank’s bottom line stood at Rs 33,538 crore, higher than Rs 31,675.98 crore recorded in FY22.
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