When the aggregate profit of 17 public-sector banks was dipping, the net profit of the private-sector lender Bandhan bank stood at Rs. 971.8 crores in July-September of FY20. The combined net profit of the 17 public-sector banks stood at Rs. 466.4 crores.
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The loss, as reported by Livemint, is due to the poor show by state-owned banks as losses made by a handful of banks have plunged down the profit of the entire group. The top losers were Allahabad Bank and Indian Overseas Bank. The Non Performing Assets remains to be the prime reason behind banks incurring losses.
Read more at Livemint
