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Public sector banks (PSBs) seem to have made it a habit of putting up a better show than their private peers. After a good performance in the March quarter, they have outshone again in the first quarter of the current financial year (April-June).
Barring Punjab National Bank, year-on-year, every PSB has recorded an increase in net profit in the June quarter. The rise varies between 75.57 per cent (Indian Overseas Bank) and 1.87 per cent (Bank of Baroda).
In contrast, net profit has dipped for at least eight private banks. Among large private banks, Axis Bank Ltd’s net profit dropped
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