Public sector lenders recorded aggregate net profits of ₹59,367 crore in the second quarter, representing a 20% year-on-year rise that outstripped the ₹57,095 crore earned by private banks. Profitability was further strengthened by a 15.9% expansion in net interest income alongside reduced non-performing assets. Foreign portfolio investors have reinforced this momentum by deploying ₹53,739 crore into Indian equities during November.
Key points
State-run lenders generated ₹59,367 crore in quarterly profit, slightly exceeding the tot…: State-run lenders generated ₹59,367 crore in quarterly profit, slightly exceeding the total earnings reported by private competitors.
Overseas investors injected ₹53,739 crore into domestic equities in November following ma…: Overseas investors injected ₹53,739 crore into domestic equities in November following market corrections in artificial intelligence shares.
Public sector banks expanded their net margins because their lending yields increased at…: Public sector banks expanded their net margins because their lending yields increased at a faster pace than funding costs.
Sources checked by our analysis pipeline: 1
Shares of state-owned banks such as SBI, Bank of Maharashtra, and Indian Bank have been flying high lately as Dalal Street staged a strong rebound. In the previous session, the Nifty PSU Bank index surged nearly 4%, marking its biggest single-day gain in almost two years.
Union Bank of India, Punjab National Bank, Bank of India, and Bank of Baroda emerged as the top gainers, with all 12 constituents of the index closing higher, posting gains ranging between 0.7% and 5.6%.
To be precise, PSU bank stocks have been in recovery mode since late October, gaining around 12% from their recent lows.
Investors have been encouraged by the sector's strong performance in the September quarter, with banks reporting healthy credit growth, improving asset quality, robust interest income growth, and a reduction in overall non-performing assets.
In addition, the return of overseas investors has also supported the rally, pushing the Nifty PSU Bank index to its highest level since April.
FPIs have pumped ₹53,739 crore into domestic stocks in November so far, according to NSDL data. The shift in sentiment towards…
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