 "Banks credit growth")
State-owned Punjab National Bank (PNB) on Friday said it has posted a credit growth of 11.5 per cent at Rs 9.85 lakh crore for the March quarter.
Total advances were Rs 8.84 lakh crore at the end of March 31, 2023, PNB said in a regulatory filing.
The lender reported a 7 per cent increase in total deposits to Rs 13.70 lakh crore as against Rs 12.81 lakh crore at the end of the fourth quarter of the previous financial year.
Total business of the bank rose 8.8 per cent to Rs 23.56 lakh crore as compared to Rs 21.65 lakh crore at the end of March 31, 2023.
The Credit Deposit (CD) ratio increased to 72 per cent at the end of March 31, 2024 as against 69.1 per cent in the year-ago period.
Another public sector lender Bank of India reported a credit growth of 13.56 per cent at Rs 5.86 lakh crore for the March quarter.
The outstanding credit was Rs 5.15 lakh crore at the end of March 31, 2023, Bank of India said in a separate regulatory filing.
The total deposit of the bank rose 10.20 per cent to Rs 7.37 lakh crore as against Rs 6.69 lakh crore at the end of the fourth quarter of the previous financial year.
Bank of Baroda in a separate filing said global advances of the bank grew 12.41 per cent to Rs 10.89 lakh crore as of March 31, 2024 as against Rs 9.69 lakh crore at the end of previous fiscal.
At the same time total deposits of the bank improved 10.24 per cent to Rs 13.26 lakh crore at the end of March 2024.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
