New Delhi: State-owned Punjab National Bank (PNB) on Friday said it has posted a credit growth of 11.5 percent 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 percent 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 percent 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 percent at the end of March 31, 2024 as against 69.1 percent in the year-ago period.
Another public sector lender Bank of India reported a credit growth of 13.56 percent 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 percent 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 percent 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 percent to Rs 13.26 lakh crore at the end of March 2024.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)