<p>New Delhi: Dividend payout by public sector banks (PSBs) have risen by 33 per cent to Rs 27,830 crore in FY24, indicating significant improvement in financial health of these lenders.</p>.<p>PSBs declared a dividend of Rs 27,830 crore to shareholders in 2023-24 as against Rs 20,964 crore in the previous fiscal, registering an increase of 32.7 per cent, according to the government data.</p>.<p>Of Rs 27,830 crore total dividend, nearly 65 per cent or Rs 18,013 crore was paid to the government towards their shareholding in FY24.</p>.<p>During 2022-23, the government received Rs 13,804 crore as dividend from the public sector banks including State Bank of India (SBI).</p>.FPI outflows ebb amid easing global concerns, optimism over Russia-Ukraine conflict.<p>It is to be noted that 12 public sector banks recorded the highest ever aggregate net profit of Rs 1.41 lakh crore in 2023-24 against the net profit of Rs 1.05 lakh crore in 2022-23, and earned Rs 1.29 lakh crore in the nine months of the current financial year.</p>.<p>Out of the total profit of Rs 1,41,203 crore earned during FY24, market leader SBI alone contributed over 40 per cent, as per the published numbers on exchanges.</p>.<p>SBI earned a profit of Rs 61,077 crore, 22 per cent higher than the previous financial year (Rs 50,232 crore).</p>.<p>In percentage terms, Delhi-based Punjab National Bank had the highest net profit growth of 228 per cent at Rs 8,245 crore, followed by Union Bank of India with a 62 per cent rise to Rs 13,649 crore and Central Bank of India with a 61 per cent increase to Rs 2,549 crore.</p>.<p>Among the banks which recorded over 50 per cent jump in net profit included Bank of India with a 57 per cent growth to Rs 6,318 crore while Bank of Maharashtra with a 56 per cent rise to Rs 4,055 crore and Chennai-based Indian Bank recorded a 53 per cent improvement to Rs 8,063 crore.</p>.<p>PSB is a turnaround story from record losses of Rs 85,390 crore in FY18 to the record profit in FY24.</p>
<p>New Delhi: Dividend payout by public sector banks (PSBs) have risen by 33 per cent to Rs 27,830 crore in FY24, indicating significant improvement in financial health of these lenders.</p>.<p>PSBs declared a dividend of Rs 27,830 crore to shareholders in 2023-24 as against Rs 20,964 crore in the previous fiscal, registering an increase of 32.7 per cent, according to the government data.</p>.<p>Of Rs 27,830 crore total dividend, nearly 65 per cent or Rs 18,013 crore was paid to the government towards their shareholding in FY24.</p>.<p>During 2022-23, the government received Rs 13,804 crore as dividend from the public sector banks including State Bank of India (SBI).</p>.FPI outflows ebb amid easing global concerns, optimism over Russia-Ukraine conflict.<p>It is to be noted that 12 public sector banks recorded the highest ever aggregate net profit of Rs 1.41 lakh crore in 2023-24 against the net profit of Rs 1.05 lakh crore in 2022-23, and earned Rs 1.29 lakh crore in the nine months of the current financial year.</p>.<p>Out of the total profit of Rs 1,41,203 crore earned during FY24, market leader SBI alone contributed over 40 per cent, as per the published numbers on exchanges.</p>.<p>SBI earned a profit of Rs 61,077 crore, 22 per cent higher than the previous financial year (Rs 50,232 crore).</p>.<p>In percentage terms, Delhi-based Punjab National Bank had the highest net profit growth of 228 per cent at Rs 8,245 crore, followed by Union Bank of India with a 62 per cent rise to Rs 13,649 crore and Central Bank of India with a 61 per cent increase to Rs 2,549 crore.</p>.<p>Among the banks which recorded over 50 per cent jump in net profit included Bank of India with a 57 per cent growth to Rs 6,318 crore while Bank of Maharashtra with a 56 per cent rise to Rs 4,055 crore and Chennai-based Indian Bank recorded a 53 per cent improvement to Rs 8,063 crore.</p>.<p>PSB is a turnaround story from record losses of Rs 85,390 crore in FY18 to the record profit in FY24.</p>