PSB Dividend 2025: Public sector lender’s dividend rises 33% to Rs 27,830 crore in FY24
The public sector banks—including State Bank of India (SBI)—sent the government Rs 13,804 crore as dividends during 2022–23.
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Public sector banks (PSBs) have seen a 33 per cent increase in dividend payout to Rs 27,830 crore in FY24, suggesting notable improvement in the financial situation of these lenders.
Based on government statistics, PSBs announced a dividend of Rs 27,830 crore to shareholders in 2023–24 against Rs 20,964 crore, therefore indicating a 32.7% rise. Of the total dividend of Rs 27,830 crore, around 65% or Rs 18,013 crore went to the government towards their stake in FY 2024.
The public sector banks—including State Bank of India (SBI)—sent the government Rs 13,804 crore as dividends during 2022–23.
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Against the net profit of Rs 1.05 lakh crore in 2022-23, 12 public sector banks noted the highest ever aggregate net profit of Rs 1.41 lakh crore in 2023-24, and earned Rs 1.29 lakh crore in the nine months of the current financial year. Published data on exchanges show that market leader SBI alone made over 40% of the entire profit of Rs 1.41 lakh crore earned during FY24.
Read Also : RITES Ltd receives work order from Mahanadi Coalfields for Rail ConnectivityA Profit of Rs 61,077 crore, 22 percent higher than the previous financial year (Rs 50,232 crore) was earned by SBI. Delhi-based Punjab National Bank recorded the biggest net profit gain of 228 per cent at Rs 8,245 crore; followed by Union Bank of India with a 62% rise to Rs 13,649 crore and Central Bank of India with a 61% rise to Rs 2,549 crore.
Percentage terms Among the banks with a net profit over 50% were Bank of India with a 57% increase to Rs 6,318 crore; Bank of Maharashtra with a 56% increase to Rs 4,55 crore; Chennai-based Indian Bank with a 53% rise to Rs 8,063 crore. From record losses of Rs 85,390 crore in FY18 to the record profit in FY24, PSB is a flip story.
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