Public sector banks' dividend rises 33% to Rs 27,830 crore in FY24
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. 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. 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. During 2022-23, the government received Rs 13,804 crore as dividend from the public sector banks including State Bank of India (SBI). 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. Out of the total profit of Rs 1,41,203 crore earned during FY24, market leader SBI alone ..
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.
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.
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.
During 2022-23, the government received Rs 13,804 crore as dividend from the public sector banks including State Bank of India (SBI).
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.
Out of the total profit of Rs 1,41,203 crore earned during FY24, market leader SBI alone ..
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