Finance Ministry to meet CEOs of state-owned banks to review Q1 performance on August 20

The Finance Ministry has called a meeting of heads of public sector banks (PSBs) on Wednesday to review the first-quarter financial performance.

The meeting is scheduled to be chaired by Financial Services Secretary M Nagaraju. The review meeting on August 20 with public sector banks to assess the performance of the first quarter of 2025-26, according to sources.

Led by State Bank of India (SBI), public sector banks, cumulatively, logged a record profit of Rs 44,218 crore in the first quarter of the current fiscal, with an 11 percent year-on-year growth. All 12 public sector banks together made a profit of Rs 39,974 crore in the June quarter of FY25. The increase in profit in absolute terms was Rs 4,244 crore.

Market leader SBI alone contributed 43 percent to the total earnings of Rs 44,218 crore, as per the published numbers on stock exchanges. SBI logged a net profit of Rs 19,160 crore in Q1 FY26, 12 per cent higher than the same period of the previous fiscal. In terms of size and profits, the biggest lender in the nation still controls the public banking market.