Indian Banks’ Profitability FY24
In FY 2023-24, Indian banks achieved their sixth consecutive year of profit growth, with net profits rising by 32.8% to ₹3.49 lakh crore. The gross non-performing assets (GNPA) ratio declined to 2.5% by September 2024, its lowest in 13 years, reflecting improved asset quality. Net bad loans also dropped to 0.57% of total loans. Non-Banking Financial Companies (NBFCs) reported steady double-digit growth and enhanced asset quality. Indian banks maintained robust capital positions with stable CRAR and leverage ratios, demonstrating resilience and supporting economic growth. The overall financial stability highlights effective risk management and a favorable economic environment.
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