New Delhi : The cumulative loss of public sector banks crossed Rs 87,357 crore in the 2017-18 fiscal year, with scam-tainted Punjab National Bank (PNB) topping the chart with a hit of nearly Rs 12,283 crore followed by IDBI Bank.
Out of 21 state-owned banks, only two — Indian Bank and Vijaya Bank — posted profits during 2017-18. Indian Bank posted highest profit of Rs 1,258.99 crore and Vijaya Bank’s profit stood at Rs 727.02 crore. The rest 19 state-run banks collectively posted a net loss of Rs 87,357 crore in the fiscal. All 21 banks had together posted a profit of Rs 473.72 crore in the 2016-17. PNB posted a loss of Rs 12,282.82 crore last fiscal as against a profit of Rs 1,324.8 crore in the previous year.