Latest News | PNB, BoM Record Double-digit Loan Growth in Q3

New Delhi, Jan 2 (PTI) State-owned Punjab National Bank (PNB) on Tuesday said it has posted a 13.5 per cent growth in advances to Rs 9.72 lakh crore for the December quarter.

Total advances stood at Rs 8.56 lakh crore at the end of the third quarter of the last financial year, PNB said in a regulatory filing.

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Another public sector lender Bank of Maharashtra (BoM) in a separate filing said it saw a 20.28 per cent increase in loan growth to Rs 1.88 lakh crore as against Rs 1.56 lakh crore in the third quarter of the previous fiscal.

The Pune-based lender recorded a 17.90 per cent improvement in deposit growth at Rs 2.45 lakh crore as compared to Rs 2.08 lakh crore at the end of December 2022.

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At the same time PNB's deposits rose a tad lower at 9.4 per cent to Rs 13.23 lakh crore during the quarter from Rs 12.10 lakh crore in the year-ago period, it said.

As a result, the total business of the bank increased 11.1 per cent to Rs 22.95 lakh crore at the end of December 31, 2023, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)