Banks’ profitability improves for 6th year in row in FY24: RBI report
Mumbai, December 26, 2024.
Profitability of banks improved for the sixth consecutive year in 2023-24 and their gross bad debts or NPAs declined to a 13-year low of 2.7 per cent, according to the RBI data released on Thursday.
India's strong macroeconomic fundamentals have boosted the performance and soundness of the domestic banking and nonbanking financial sectors.
"Banks’ profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets (RoA) at 1.4 per cent and return on equity (RoE) at 14.6 per cent," said the Report on Trend and Progress of Banking in India 2023-24.
