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Robust business growth; maintains CD ratio at 72.7%

PNB released its quarterly business numbers for 3QFY25. Here are the highlights:

*Gross global advances grew by a robust 15% YoY/4.7% QoQ to ~INR11.1t. Domestic advances grew 14% YoY/ 5% QoQ, forming 95.5% of the total advances pool.

*Deposits growth was also robust at 15.6% YoY/4.9% QoQ to INR15.3t. Domestic deposits grew 14.4% YoY (4.2% QoQ).

*The bank’s CD ratio stood at 72.7% vs 72.8% as of 2QFY25.

*Overall, PNB posted a robust growth in advances as well as deposits. The business growth at 15.3% YoY/4.8% QoQ stood better than our expectations, while the CD ratio remained broadly stable.

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