The state-run lender said that its total advances stood at Rs 9,85,986 crore as of 31 March 2024, recording a growth of 11.5% as against Rs 8,84,681crore as of 31 December 2023.
On quarter on quarter (QoQ) basis, the deposits rose 1.9% in the March quarter from Rs 9,67,256 crore as of 31 December 2023.The public sector bank reported a 7% growth in total deposits to Rs 13,70,301 crore as of 31 March 2024 as against Rs 12,81,163 crore as of 31 March 2023 and 3.5% increase from Rs 13,23,485 crore as of 31 December 2023.
As on 31 March 2024, domestic deposits was at Rs 13,33,960 crore (up 6.6% YoY and up 3.5% QoQ) while domestic advances stood at Rs 9,44,975 crore (up 11.2% YoY and up 1.6% QoQ).
The bank's total business grew by 8.8% to Rs 23,56,288 crore as of 31 March 2024 over Rs 21,65,844 crore as of 31 March 2023 and 2.9% rise from Rs 22,90,742 crore as of 31 December 2023.
CASA deposits stood at Rs 5,51,891 crore as on 31 March 2024, registering a growth of 2.6% YoY and 0.8% QoQ.
Punjab National Bank is engaged in the business of treasury, corporate/wholesale banking, retail banking, other banking operations. As on 31 December 2023, Government of India held 73.15% take in the bank.
The bank's standalone net profit stood at Rs 1,756.13 crore in Q2 FY24, steeply higher from Rs 411.27 crore in Q2 FY23. Total income increased 27.75% year on year (YoY) to Rs 29,383.20 crore in the quarter ended 30 September 2023.
The scrip added 1.04% to settle at Rs 136.50 on Friday, 05 April 2024.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
