Punjab National Bank Leads Credit Growth Surge in FY25

State-owned banks, including Punjab National Bank, Central Bank of India, and Punjab & Sind Bank, reported significant credit and deposit growth as of the March quarter. PNB led with a 13.6% hike in credit and 14.3% in deposits. Central Bank and Punjab & Sind also showed substantial increases.

State-owned Punjab National Bank (PNB) has announced a robust credit growth of 13.6% reaching Rs 11.17 lakh crore for the March quarter, as per its regulatory filing.

At the quarter's close on March 31, 2024, PNB's total advances stood at Rs 9.83 lakh crore, while the bank's total deposits rose by 14.3% to Rs 15.65 lakh crore compared to Rs 13.69 lakh crore in the previous year-end. Consequently, PNB's total business surged 14% to Rs 26.83 lakh crore.

Similarly, the Central Bank of India saw a 16.20% increase in loans culminating at Rs 2.95 lakh crore, with deposits up by 7.18% to Rs 4.12 lakh crore. Meanwhile, Punjab & Sind Bank recorded a 16.39% rise in advances and an 8.68% deposit increase during the same period.

(With inputs from agencies.)