Punjab National Bank (PNB) has reported a 10.7% year-on-year increase in domestic advances, reaching Rs 11.19 lakh crore as of September 30. Domestic deposits also rose by 10.4% to Rs 15.63 lakh crore. On a sequential basis, the bank’s credit growth outpaced its deposit growth. Globally, PNB’s advances grew 10.3% and deposits increased by 10.9% year-on-year.
In comparison, Union Bank of India’s domestic advances grew by a modest 0.43% quarter-on-quarter, while deposits fell by 0.44% during the same period. However, on a year-on-year basis, the bank’s domestic advances rose 5.34% to Rs 9.42 lakh crore, and domestic deposits increased by 1.89% to Rs 12.34 lakh crore. Notably, Union Bank’s domestic retail term deposits grew 14.10% year-on-year, and domestic retail advances surged by 23.96%.
Private lenders, such as YES Bank, maintained their momentum, with loans and advances rising 6.5% year-on-year to Rs 2.50 lakh crore, and deposits increasing by 7.1% to Rs 2.97 lakh crore. The bank’s CASA ratio improved to 33.8% from 32.8% in the previous quarter.
Tamilnad Mercantile Bank reported a 10.5% year-on-year growth in total advances, reaching Rs 46,996 crore, while deposits rose 12.32% to Rs 55,421 crore. The bank’s CASA deposits grew 9.30% year-on-year to Rs 15,163 crore. Overall, the banking sector has shown mixed results, with some public sector banks, such as PNB, leading the way in terms of credit growth, while private lenders continue to maintain their momentum. Union Bank’s focus on retail lending has yielded positive results, with significant growth in retail advances and deposits.