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PSU banks’ Q1 total income growth double than that of private banks

PSU banks’ Q1 total income growth double than that of private banks
PTI
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First Published: Thu, Aug 06 2009. 07 20 PM IST
Updated: Thu, Aug 06 2009. 07 20 PM IST
New Delhi: Public sector banks’ performance in terms of growth in total income was double than that of their private counterparts in the first quarter of the current fiscal, industry body Assocham said on Thursday.
The growth rate of total income registered by public sector banks was 28.96% during the quarter while that of private sector banks was 13.52%, as per the analysis of 30 public and private Indian banks by the Assocham Financial Pulse (AFP).
Indian retail banking sector, which mainly depends on transactions directly with consumers savings and lending, registered a decline of 5.02% in the first quarter.
“In the context of 15 public sector banks, State Bank of Hyderabad has the maximum share of retail banking segment contributing about 81.84% to its total income followed by Andhra Bank, SBI and Indian Bank,” the chamber added.
The banks which registered decline in share of retail banking during the quarter were Oriental Bank of Commerce, Allahabad Bank, Corporation Bank, Bank of India, Indian Overseas Bank and Bank of Baroda.
In the context of 15 private banks, Ing Vysya Bank recorded the maximum share of retail banking in its total income contributing nearly 80.20%, followed by Kotak Mahindra Bank, HDFC Bank of India and ICICI Bank.
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First Published: Thu, Aug 06 2009. 07 20 PM IST
More Topics: PSU Banks | Assocham | Private banks | Income | Growth |