Punjab National Bank gains on reporting 10% rise in total deposits during Q2FY24
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Punjab National Bank is currently trading at Rs. 77.25, up by 0.14 points or 0.18% from its previous closing of Rs. 77.11 on the BSE.
The scrip opened at Rs. 77.50 and has touched a high and low of Rs. 78.20 and Rs. 76.01 respectively. So far 4525895 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 83.45 on 03-Oct-2023 and a 52 week low of Rs. 35.45 on 13-Oct-2022.
Last one week high and low of the scrip stood at Rs. 83.45 and Rs. 76.01 respectively. The current market cap of the company is Rs. 85280.32 crore.
The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 15.27% and 11.58% respectively.
Punjab National Bank (PNB) has reported 9.7% rise in total deposits to Rs 13,08,719 crore as of September 30, 2023 (Q2FY24) as compared to Rs 11,93,501 crore as of September 30, 2022 and in quarter-on-quarter (QoQ) basis stood at Rs 12,97,905 crore as of June 2023. Its domestic deposits stood at Rs 12,75,995 crore in Q2FY24.
Its global gross advances were up by 13.8% to Rs 9,44,678 crore in Q2FY24 as against Rs 8,30,212 crore as of September 30, 2022. Domestic advances stood at Rs 9,07,937 crore in Q2FY24.
Its CASA deposits grew 2.6% to Rs 5,38,056 crore as of September 30, 2023, as compared to Rs 5,24,448 crore on a yearly basis. On a quarterly basis, the deposits stood at Rs 5,30,842 crore as of June 2023. Credit-deposit ratio stood at 72.18% as of September 30, 2023 as compared to 70.64% as of June 30, 2023. Total Business of the bank was up by 11.3% to Rs 22,53,397 crore in Q2FY24 as against Rs 20,23,713 crore in Q2FY23.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
