Impressive Growth: PNB and Yes Bank's Strong Performance in Q2

Punjab National Bank and Yes Bank reported significant growth in credit and deposits for the second quarter of 2023. PNB's credit growth increased by 13% and total deposits by 11.41%, while Yes Bank saw a 13% rise in loan growth with an 18% increase in deposits.

The state-owned Punjab National Bank (PNB) on Thursday revealed a robust 13% rise in its credit growth, bringing it to Rs 10.64 lakh crore for the quarter ending September.

According to a recent regulatory filing by PNB, total advances amounted to Rs 9.41 lakh crore as of September 30, 2023. Furthermore, total deposits saw an 11.41% uplift, reaching Rs 14.59 lakh crore compared to Rs 13.09 lakh crore during the same period last year. The bank's overall business grew 12% to Rs 25.23 lakh crore.

In a similar trend, Yes Bank, a private sector lender, reported a 13% increase in loan growth, culminating at Rs 2.36 lakh crore, and achieved an 18% boost in deposits, at Rs 2.77 lakh crore. The bank's liquidity coverage ratio stood at an impressive 131.9% at the end of the quarter.

(With inputs from agencies.)