As we wind the year down and get set for 2022, here’s a recap of what was a year of record quarterly profits for the banking sector.
2021 has seen the highest year of quarterly profits in the banking sector and PSU banks have reported their highest quarterly profits in the last six years.
In Q2 FY22, the banking sector reported its highest quarterly profit after tax in the last 24 quarters or in the last six years. This has been on the back of reduction in the overall stress assets in the banking sector, which has helped in curtailing their credit costs or NPA provisions.
Watch the accompanying video of CNBC-TV18’s Abhishek Kothari for more details.