PNB Achieves Robust 15% Credit Growth

Punjab National Bank reported a 15% credit growth, achieving Rs 11.11 lakh crore in loans by December's end. Advances were significantly up from Rs 9.67 lakh crore. Meanwhile, deposits grew 15.6% to Rs 15.30 lakh crore, driving total business to rise 15.3% at Rs 26.42 lakh crore.

Punjab National Bank (PNB), a state-owned financial institution, declared on Thursday a notable credit growth of 15% for the December quarter, reaching Rs 11.11 lakh crore.

By December 31, 2023, the bank's total advances stood at Rs 9.67 lakh crore, as per regulatory documents.

Deposits surged by 15.6% to Rs 15.30 lakh crore compared to Rs 13.23 lakh crore the same time the previous year, leading to a 15.3% rise in total business to Rs 26.42 lakh crore.

(With inputs from agencies.)