Stock Watch: PNB shares in spotlight on Q2 business update

Punjab National Bank will be in focus today after the company announced its business update for the second quarter ended September 2024 on Thursday.

The bank’s domestic business grew by 11% year-on-year (YoY) to Rs 24.30 lakh crore in the quarter that ended September 30, 2024, compared to Rs 21.82 lakh crore as of September 2023. Meanwhile, domestic deposits rose by 11% YoY to Rs 14.17 lakh crore in the said quarter, compared to Rs 12.77 lakh crore in the year-ago period. Domestic advances stood at Rs 10.12 lakh crore, rising 12% in September 2024 compared to Rs 9.05 lakh crore in the previous quarter.

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The company's global business was at Rs 25.24 lakh crore, and global deposits stood at Rs 14.59 lakh crore in the quarter that ended September 2024.

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During the September quarter, the bank saw a 72.94% growth in its CD ratio.

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On Thursday, shares of the lender ended flat at Rs 105.

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