PNB Bank’s Deposits and Advances increased in June Quarter 2024, Check Details

PNB’s domestic deposits increased by 8.12% to Rs 13,69,954 crore in Q1 FY25 from Rs 12,67,002 crore in Q1 FY24. Quarter on quarter (QoQ), the deposits rose by 2.7% in the June quarter from Rs 13,33,365 crore as of March 2024 quarter.

Domestic Advances

• The bank’s domestic advances stood at Rs 9,89,253 crore in Q1 FY25, marking a 12.1% year-on-year (YoY) increase and a 5% QoQ increase.

Global Performance

• The bank’s global advances increased by 12.7% to Rs 10,33,600 crore as of 30 June 2024 compared to Rs 9,16,836 crore as of 30 June 2023 and Rs 9,83,325 crore as of 31 March 2024.
• Global deposits stood at Rs 14,08,282 crore as of 30 June 2024, reflecting an 8.5% YoY increase and a 2.8% QoQ increase.
• The bank’s global business reached Rs 24,41,882 crore as of 30 June 2024, recording a 10.3% YoY growth and a 3.8% increase from Rs 23,53,038 crore as of 31 March 2024.

Credit-Deposit Ratio

• Credit-deposit ratio increased to 73.39% in Q1 FY25 as against 70.64% recorded in Q1 FY24.

Business Operations and Ownership

• Punjab National Bank is engaged in Treasury Operations, Corporate/Wholesale Banking, Retail Banking, Digital Banking, and other activities.
• As of 30 June 2023, the Government of India held a 73.15% stake in the bank.

Financial Performance

• The bank reported standalone net profit of Rs 3,010.27 crore in Q4 FY24, significantly higher than the Rs 1,158.61 crore reported in Q4 FY23.
• Total income grew by 18.67% YoY to Rs 32,361.04 crore in the quarter ended 31 March 2024.

Market Performance

Share Price of Punjab National Bank is Rs.122.38 as of today.