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HomeMarket NewsPNB Q3 business update: Deposits and advances rise 14% each
The bank's domestic business rose to ₹25.37 lakh crore, recording a 4.5% quarter-on-quarter (QoQ) and 14.3% year-on-year (YoY) growth.
By Anshul January 2, 2025, 2:18:45 PM IST (Published)
Punjab Bank (PNB) reported its business update for the third quarter of FY25. The bank's domestic business rose to ₹25.37 lakh crore, recording a 4.5% quarter-on-quarter (QoQ) and 14.3% year-on-year (YoY) growth.
Domestic deposits grew to ₹14.75 lakh crore, showing a 4.2% QoQ and 14.4% YoY increase.
Global deposits stood at ₹15.30 lakh crore, reflecting a 4.9% QoQ and 15.6 percent YoY rise.
Global business reached ₹26.42 lakh crore, marking a 4.8% QoQ increase and a 15.3% YoY growth.
The bank’s global advances reached ₹11.11 lakh crore, up 4.7% QoQ and 15.0% YoY, while domestic advances grew to ₹10.61 lakh crore.
This shows 5% QoQ and 14.1% YoY increase.
The global credit-deposit (CD) ratio slightly declined to 72.66 percent from 72.82 percent in the previous quarter.
In the second quarter, the bank's net profit reached ₹4,303.5 crore, a increase from ₹1,756 crore in the same period last year.
The bank's net interest income (NII) grew by 6%, reaching ₹10,517 crore compared to ₹9,923 crore year-on-year, reflecting healthy momentum in core lending.
PNB showed improvement in asset quality, with gross non-performing assets (NPA) declining to 4.48%, down from 4.98% in the previous quarter.
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