PNB records 24.34 per cent growth in second quarter

Kozhikode, Nov 2 (UNI) Punjab National Bank(PNB) in Kerala today registered a growth of 24.34 per cent, posting a total business of Rs 2524.25 crore in the quarter-ended September against Rs 1428.87 crore during the corresponding period last year.

Desposits of the bank in the State during the quarter amounted to Rs 1428.87, as compared to Rs 1,176.27 crore last year, Zonal Manager S P Singh said in a PNB release here today.

Advance amounted to Rs 1,095.38 crore against the previous year's Rs 853.90 crore, while oustanding retail credit stood at Rs 565.11 compared to Rs 337.85 crore recorded last year.

At the national level, the bank had registered an operating profit of 30 per cent with Rs 889 crore in Q-ended September, as against Rs 684 crore recorded last year, the release said.

Total business stood at Rs 2,10,755 crore against Rs 1,73,282 crore last year marking a gorwth of Rs 21.6 per cent. Desposits amounted to Rs 1,28,415 against Rs 1,09,414 last year with a growth of 17.4 per cent. Low cost deposits continued to be the thrust area of the bank and constituted 48.7 per cent of total deposits.

Advances in the Q2 of the current fiscal amounted to Rs 82,340 crore as against Rs 63,868 crore during the corresponding period last year, the release added.

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