Punjab National Bank's Deposit, Advances Grow In Q2, Stock Reacts
Punjab National Bank's advances and deposits saw growth in the second quarter of fiscal 2025, as per a business update. Other financial metrics also saw growth.
For the quarter ending Sept. 30, 2024, PNB's domestic advances surged by 11.8% year-on-year, reaching Rs 9.05 lakh crore. This growth indicates a strong demand for credit among businesses and consumers alike. Similarly, global advances increased by 13% year-on-year, amounting to Rs 9.42 lakh crore.
On the deposits front, PNB reported domestic deposits of Rs 12.7 lakh crore, marking a 10.9% increase compared to the same quarter last year. The bank's global deposits also showed a healthy rise of 11.4%, reaching Rs 13.1 lakh crore.
For the quarter ending Sept. 30, 2024, PNB's domestic advances surged by 11.8% year-on-year, reaching Rs 9.05 lakh crore. This growth indicates a strong demand for credit among businesses and consumers alike. Similarly, global advances increased by 13% year-on-year, amounting to Rs 9.42 lakh crore.
On the deposits front, PNB reported domestic deposits of Rs 12.7 lakh crore, marking a 10.9% increase compared to the same quarter last year. The bank's global deposits also showed a healthy rise of 11.4%, reaching Rs 13.1 lakh crore.