PNB reports strong growth in Q1 deposits and advances; Check details

The bank posted sharp growth across domains during the first quarter of the current financial year. PNB’s domestic advances grew 12.1% to ₹9.89 lakh crore in Q1FY25 from ₹8.82 lakh crore in the corresponding quarter of the preceding fiscal year. The bank’s domestic advances for the period under review surged 5% from ₹9.42 lakh crore in the fourth quarter of FY24.

In the June 2024 quarter, Punjab National Bank’s global business grew 10.3% to ₹24,41,882 crore compared to ₹22,14,741 crore in the year-ago period. On a quarter-on-quarter basis (QOQ), its global business in Q1FY25, grew 3.8% from ₹23.53 lakh crore in the fourth quarter of FY24.

PNB’s credit-to-deposit ratio (CD) improved by 275 bps to 73.39% in the June 2024 quarter compared to 70.64% in the corresponding quarter of the previous year. PNB’s CD ratio improved by 160 bps QoQ from 71.79% in the fourth quarter of FY24.

Its global advances in the first quarter of FY25 surged 12.7% to ₹10,33,600 crore compared to ₹9,16,836 crore in the same quarter last year. PNB’s global advances for the June quarter surged 5.1% from ₹9,83,325 crore in the quarter ended March 31, 2024.

Punjab National Bank’s global deposits surged 8.5% to ₹14,08,282 crore in Q1FY25 from ₹12,97,905 crore in Q1FY24. The global deposits rose 2.8% QoQ in the June 2024 quarter from ₹13,69,713 crore in Q4FY24.

Its domestic deposits also grew 8.1% to ₹13,69,954 crore in the June quarter of FY25 from ₹12,67,002 crore in the corresponding quarter of the preceding fiscal.

Punjab National Bank share traded 1.06% higher at ₹122.8 apiece, on the NSE at 3:00 pm on July 5.