Public Sector Banks Shut Down 2,044 Branches In FY22: AIBEA...| MENAFN.COM

Wednesday, 17 August 2022 07:36 GMT

Public Sector Banks Shut Down 2,044 Branches In FY22: AIBEA


(MENAFN- IANS)

Chennai, July 3 (IANS) 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

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