Public sector banks shut down 2,044 branches in FY22, says AIBEA report

Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 over the previous year, a major bank employees union said in Sunday.

Public sector banks, bank credit
Representational Image
IANS Chennai
2 min read Last Updated : Jul 03 2022 | 11:38 PM IST

Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 over the previous year, a major bank employees union said in Sunday.

On the other hand, the number of branches of private banks went up by 4,023 to 34,342 branches in 2022 as compared to 2021, the All India Bank Employees' Association (AIBEA) said.

Private banks had a staff strength of 534,022 at the end of FY21, while in FY22, the number was 357,346 with the staff numbers of several banks not available on their websites, it added.

According to the AIBEA, public sector banks had 88,265 branches at the end of FY21 and the number came down to 86,221 in FY22.

Incidentally, the number of government-owned bank branches in FY20 was 90,520, the AIBEA said in a report.

The staff strength of government banks in FY21 was 807,048 and came down to 794,040 in FY22, it said, adding that the mergers of government banks in 2020 and the subsequent rationalisation of branches and staff retirements resulted in the reduction in the number of branches and staff.

Public sector banks, till FY21, had challenging times owing to mounting non-performing assets (NPAs), of which the major share was that of the corporate sector, AIBEA General Secretary C.H. Venkatachalam said.

He said the worst part is over with the government banks booking impressive accounting and social profits.

"Almost all banks have come out of RBI restrictions on account of Prompt Corrective Actions. Public sector banks have shown this impressive performance amidst uncertainties on account of mergers and privatisation," he said.

As per the AIBEA's report, the 21 government banks did a total business (deposits plus advances) of about Rs 181.402 trillion in FY22, up from Rs 166.087 trillion in FY21.

The net profits of the government banks in FY22 went up to Rs 689.79 billion, against Rs 331.77 billion in FY21.

The 21 private sector banks did a total business of Rs 95.70 trillion in FY22, up from Rs 83.62 trillion in FY21.

In respect of net profits, the private banks in FY22 logged Rs 946.96 billion as against Rs 692.19 billion in FY21.

--IANS

vj/vd

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :AIBEApublic sector banksPSB crisis

First Published: Jul 03 2022 | 11:38 PM IST

Next Story