New Delhi, Aug 03: PSU banks net profit growth slowed down to 48 per cent at Rs 12,294 crore last fiscal compared to a robust 92.5 per cent growth in 2001-02, while NPAs fell drastically from 5.8 to 4.5 per cent. "The combined net profits of the 27 PSU banks increased by 48 per cent to Rs 12,294 crore in the last fiscal. The net profits had increased 92.5 per cent in 2001-02. Thus, the net profit of PSU banks increased 2.8 times during the last two financial years," ICRA said in a report.

Of the total Rs 12,294 crore net profit, State Bank of India and its associates contributed Rs 4,510 crore or 36.7 per cent of the pie, while the share of 19 nationalised banks was at 73.3 per cent at Rs 7,784 crore.
SBI topped the list posting a net profit of Rs 3,105 crore while its competetitor in private sector ICICI Bank logged 1,206 crore.
SBI was followed by Canara Bank with a net profit of Rs 1,019 crore, Bank of India (Rs 851 crore), Punjab National Bank (Rs 842 crore) and Bank of Baroda (Rs 773 crore), the report compiled by ICRA Information, Grading & Research Service said.
The combined income of the PSU banks inched up 9.6 per cent to Rs 1,28,464 crore last fiscal. "The trend in declining interest rates in the economy resulted in a mere 1.0 per cent increase in Interest Expenses to Rs 69,853 crore," it said. Bureau Report