Punjab National Bank reports 13% loan growth in second quarter

State-owned Punjab National Bank (PNB) on Thursday said it has posted a credit growth of 13 per cent at Rs 10.64 lakh crore for the second quarter ended September.

Total advances were Rs 9.41 lakh crore at the end of September 30, 2023, PNB said in a regulatory filing.

The lender reported an 11.41 per cent increase in total deposits to Rs 14.59 lakh crore as against Rs 13.09 lakh crore at the end of the second quarter of the previous financial year.

Total business of the bank rose 12 per cent to Rs 25.23 lakh crore as compared to Rs 22.51 lakh crore at the end of September 30, 2023.

In another filing, private sector lender Yes Bank reported a 13 per cent rise in its loan growth at 2.36 lakh crore as compared to Rs 2.09 lakh crore in the same quarter a year ago.

At the same time Yes Bank posted an 18 per cent increase in deposits at Rs 2.77 lakh crore.

The liquidity Coverage Ratio of the bank stood at 131.9 per cent at the end of the second quarter of the current fiscal.