Debasish Acharya
Post News Network
Bhubaneswar, August 10: Public sector lender, Punjab National Bank has witnessed around 57 per cent growth in total deposits by the end of June quarter in the state, a top official of the bank said. “Our total deposits have grown by around 57 per cent during the June quarter against the same period of last year. Meanwhile, deposits have risen by 18.33 per cent on sequential basis,” Circle Head of PNB (Bhubaneswar Zone), Jyoti Ranjan Rath told Orissa Post.
As per the bank, its total deposits as on March 15 stood at Rs 5116.27 crore, which has increased to Rs 6054.06 crore by the end of June quarter of this fiscal. Deposits of the bank by the end of June, 2014 stood at Rs 3,858 crore. Elaborating on growth in advances, Rath said it has reported a growth of 3 per cent during the first quarter against the last quarter. Total advances of the bank by the end of June quarter stands at Rs 3,797 crore against Rs 3,692.87 crore as on March, 2015. “The y-o-y growth in advances in the priority sector was at 22.51 per cent. Our advances to priority sector were at Rs 1,791.10 crore as on June, 2015 against Rs 1,462 crore reported in June, 2014,” Rath said adding that the bank has reported a sequential growth of 16.45 per cent in this segment.
Similarly, on agriculture advances, Rath said y-o-y growth of 12 per cent was reported by the end of first quarter in this fiscal. “Agricultural advances of the bank stood at Rs 607.10 crore by June end against Rs 542.28 crore reported in June14.
