Punjab National Bank reported 13.5% credit growth in Dec Quarter, Total advances increased to Rs 9.72 lakh crore

In a regulatory filing on Tuesday, state-owned Punjab National Bank (PNB) announced a substantial growth of 13.5% in advances, reaching Rs 9.72 lakh crore for the December quarter. This marks a notable increase from Rs 8.56 lakh crore recorded at the end of the third quarter of the previous financial year.
PNB’s Deposit and Overall Business:
While PNB experienced a slightly lower deposit growth at 9.4%, reaching Rs 13.23 lakh crore during the quarter, compared to Rs 12.10 lakh crore in the year-ago period, the bank’s total business recorded an 11.1% increase, reaching Rs 22.95 lakh crore by the end of December 31, 2023, as per the regulatory filing.
Bank of Maharashtra (BoM) Loan Growth:
In a separate filing, another public sector lender, Bank of Maharashtra (BoM), reported a significant 20.28% surge in loan growth, reaching Rs 1.88 lakh crore, compared to Rs 1.56 lakh crore in the third quarter of the preceding fiscal year.
Bank of Maharashtra’s Deposit and Total Business:
Based in Pune, Bank of Maharashtra showcased a commendable 17.90% improvement in deposit growth, totaling Rs 2.45 lakh crore, as opposed to Rs 2.08 lakh crore at the end of December 2022.