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

Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 from a year earlier, a major bank workers’ union said on Sunday.

On the other hand, the number of private bank branches increased by 4,023 to 34,342 branches in 2022 compared to 2021, said the Indian Association of Bank Employees (AIBEA).

Private banks had a headcount of 534,022 at the end of FY21, while in FY22 the number was 357,346 as several banks’ headcounts were not available on their sites. Web, he added.

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

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

State-owned bank staffing in FY21 was 807,048 and fell to 794,040 in FY22, he said, adding that state-owned bank mergers in 2020 and streamlining Subsequent expansion of branches and staff retirements have led to a reduction in the number of branches and staff. .

Public sector banks, up to FY21, had a hard time due to the increase in non-performing assets (NPA), most of which was in the corporate sector, said the general secretary of AIBEA, CH Venkatachalam.

He said the worst was over, with government banks reserving impressive accounting and social benefits.

“Almost all the banks came out of the RBI restrictions due to the prompt corrective actions. Public sector banks showed this impressive performance amid uncertainties related to mergers and privatization,” he said.

According to the AIBEA report, the 21 government banks had a total business (deposits plus advances) of about Rs 181.402 billion in FY22 compared to Rs. 166.087 billion in FY 21.

Net profit of government banks in FY22 increased to Rs 689.79 billion from Rs 331.77 billion in FY21.

The 21 private sector banks had a total turnover of Rs 95.70 trillion in FY22 compared to Rs 83.62 trillion in FY21.

In terms of net profit, private banks in FY22 recorded Rs 946.96 billion compared to Rs 692.19 billion in FY21.



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