PNB shares Q2 business update: Advances rise 12%, deposits up by 11%
Global advances increased by 13.03% year-over-year and 3.47% quarter-over-quarter, reaching Rs 10.64 lakh crore.
PNB shares Q2 business update: Advances rise 12%, deposits up by 11%
New Delhi: Punjab National Bank (PNB) has reported growth in both domestic and global business during Q2 FY24. Domestic advances rose 11.84% year-on-year (YoY) and 2.82% quarter-on-quarter (QoQ), reaching Rs 10.13 lakh crore.
Global advances increased by 13.03% year-over-year and 3.47% quarter-over-quarter, reaching Rs 10.64 lakh crore.
On the deposits front, domestic deposits rose by 11% year-over-year and 3.47% quarter-over-quarter, reaching Rs 14.17 lakh crore. Global deposits experienced an 11.4% year-over-year increase and a 3.63% quarter-over-quarter jump, totaling Rs 14.59 lakh crore.
The bank's total global business reached Rs 25.23 lakh crore, reflecting a 12.09% YoY increase. Meanwhile, domestic business grew by 11.34% YoY to Rs 24.29 lakh crore. The credit-deposit (CD) ratio was reported at 72.94% for the quarter.
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Additionally, the PNB has recently announced a qualified institutions placement (QIP) of its equity shares.
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