Punjab National Bank (PNB) said that its domestic deposits increased 8.12% to Rs 13,69,954 crore in Q1 FY25 as compared with Rs 12,67,002 crore in Q1 FY24.
On quarter on quarter (QoQ) basis, the deposits rose 2.7% in the June quarter from Rs 13,33,365 crore as of March 2024 quarter.The bank's domestic advances stood at Rs 9,89,253 crore in Q1 FY25, up 12.1% year on year (YoY) and up 5% quarter on quarter (QoQ).
The banks global advances increased 12.7% to Rs 10,33,600 crore as of 30 June 2024 as against Rs 9,16,836 crore as of 30 June 2023 and from Rs 9,83,325 crore as of 31 March 2024.
As on 30 June 2024, the banks global deposits was Rs 14,08,282 crore (up 8.5% YoY and up 2.8% QoQ).
The bank's global business stood at Rs 24,41,882 crore as of 30 June 2024, recording a growth 10.3% year on year (YoY) and 3.8% from Rs 23,53,038 crore as of 31 March 2024.
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Credit-deposit ratio increased to 73.39% in Q1 FY25 as against 70.64% recorded in Q1 FY24.
Punjab National Bank is engaged in Treasury Operations, Corporate/Wholesale Banking, Retail Banking, Digital Banking, Others. As on 30 June 2023, Government of India held 73.15% stake in the bank.
The public lender reported standalone net profit of Rs 3,010.27 crore in Q4 FY24 steeply higher than Rs 1,158.61 crore reported in Q4 FY23. Total income grew by 18.67% year on year (YoY) to Rs 32,361.04 crore in the quarter ended 31 March 2024.
Shares of Punjab National Bank rose 0.70% to Rs 122.35 on the BSE.
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