The study examined the factors influencing the profitability of 50 public and private sector banks in India over a period of 10 years, from the financial year 2013 to 2022. The study used return on assets as the dependent variable to measure profitability, while the determinants of profitability included bank-specific and macroeconomic variables. The bank-specific variables were derived from the CAMELS model, including capital adequacy, net non-performing assets, profit per employee, return on equity, cash to deposits, and the priority advances to total advances ratio. The macroeconomic variables included gross domestic product and inflation. The study used panel data analysis to achieve the objectives of this research study. The descriptive statistics were used to describe the variables, the correlation matrix was used to identify the significant relationships between variables, and the Hausman test was used to find out which model is suitable for panel data analysis between the fixed effect model and the random effect model. The study also used the Wald test to identify significant relationships between the dependent and independent variables. Out of the eight variables examined, seven were found to have a significant relationship with return on assets for both public and private sector banks. The fixed effect model was found to be a more suitable model for explaining the variations in the dependent variable compared to the pooled OLS regression model. The fixed effect model revealed that explanatory variables had a higher predictability power and could explain more than the intercept model. However, it is important to note that this study only focused on 50 banks from the public and private sectors in India, and therefore the results cannot be generalised to the entire banking sector in India. Further research is needed to explore the determinants of profitability for all banks.