PNB, BoM Record Double-Digit Loan Growth In Q3

State-owned Punjab National Bank (PNB) on Tuesday said it has posted a 13.5% 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.

Another public sector lender Bank of Maharashtra (BoM) in a separate filing said it saw a 20.28% 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% improvement in deposit growth at Rs 2.45 lakh crore as compared to Rs 2.08 lakh crore at the end of December 2022.

At the same time PNB's deposits rose a tad lower at 9.4% 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% to Rs 22.95 lakh crore at the end of Dec. 31, 2023, it added.