PNB and BoM clock good deposit and advances growth in Q3FY25

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Public sector banks’ seems to have clocked healthy deposit and advances growth in the third quarter (Q3FY25), going by provisional numbers announced by Punjab National Bank (PNB) and Bank of Maharashtra (BoM).

Punjab National Bank (PNB) reported a 15 per cent increase in global business (deposits plus advances from domestic and overseas operations) in the third quarter to ₹26,42,341 crore as at December-end 2024.

Bank of Maharashtra (BoM) clocked a 17 per cent year-on-year (y-o-y) growth in total business (deposits plus advances) in the third quarter to ₹5,07,670 crore as at December-end 2024.

Punjab National Bank

The public sector bank’s domestic deposits increased by about 14 per cent y-o-y to ₹14,75,482 crore as at December-end 2024. Domestic advances rose about 14 per cent y-o-y to ₹10,61,852 crore, per the Bank’s provisional business numbers.

The Bank’s global deposits (domestic plus overseas deposits) were up about 16 per cent y-o-y to ₹15,30,401 crore. Global advances increased by 15 per cent y-o-y to ₹11, 11,940 crore.

Global credit-deposit (CD) ratio declined to 72.66 per cent as at December-end 2024 against 73.08 per cent as at December-end 2023.

Bank of Maharashtra

The public sector bank’s total deposits increased by about 13.5 per cent y-o-y to ₹2,79,018 crore as at December-end 2024. Gross advances rose about 21 per cent y-o-y to ₹2,28,652 crore, per the Bank’s provisional business numbers.

Low-cost current account, savings account (CASA) deposits increased by 11.50 per cent y-o-y to ₹1,37,504 crore. However, as a proportion of total deposits, CASA deposits declined to 49.28 per cent as at December-end 2024 against 50.19 per cent as at December-end 2023.

Credit-Deposit ratio increased to 81.95 per cent as at December-end 2024 against 76.78 per cent as at December-end 2023.