State-owned Punjab National Bank (PNB) on Friday said it posted 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 growth in total deposits to Rs 13.70 lakh crore against Rs 12.81 lakh crore at the end of the fourth quarter of the previous financial year.
The bank’s total business rose 8.8 percent to Rs 23.56 lakh crore compared to Rs 21.65 lakh crore at the end of March 31, 2023.
The Credit Deposit Ratio (CD) increased to 72 percent at the end of March 31, 2024 against 69.1 percent in the year-ago period.
Another public sector lender Bank of India reported 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 bank’s total deposit rose 10.20 percent to Rs 7.37 lakh crore 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 the bank’s global advances grew by 12.41 per cent to Rs 10.89 lakh crore as on March 31, 2024 against Rs 9.69 lakh crore at the end of previous fiscal.
At the same time, total deposits of the bank improved by 10.24 per cent to Rs 13.26 lakh crore at the end of March 2024.