Punjab & Sind Bank's business grows 15% as loans outpace deposits in Q1

Punjab & Sind Bank

reported a 15.33% year-on-year increase in its total business for the quarter ended June 30, supported by healthy growth in both advances and deposits, according to its provisional business update.

The bank's total business rose to ₹2.67 lakh crore from ₹2.31 lakh crore in the corresponding quarter last year.

Total deposits increased 12.16% year-on-year to ₹1.47 lakh crore from ₹1.31 lakh crore a year earlier.

Gross advances climbed 19.5% year-on-year to ₹1.19 lakh crore from ₹99,950 crore in the year-ago period, outpacing deposit growth and indicating continued momentum in the bank's lending portfolio.

The bank's Current Account Savings Account (CASA) ratio stood at 76.19% as of June 30, compared with 81.18% a year earlier, suggesting a shift in the deposit mix despite remaining at a relatively strong level.

Overall, the provisional business update points to sustained balance sheet expansion during the quarter, with credit growth remaining stronger than deposit mobilisation.

Shares of Punjab & Sind Bank closed 1.20% higher at ₹24.53 on the NSE.