Punjab National Bank (PNB) reported gross business of ₹27.19 lakh crore in the first quarter of financial year 2024-25, marking a 1.4% rise quarter-on-quarter and an 11.6% increase year-on-year. The bank’s domestic business stood at ₹26.17 lakh crore, reflecting 1.5% sequential and 11.1% annual growth.Global deposits were at ₹15.89 lakh crore, up 1.45% quarter-on-quarter and 12.8% year-on-year. Domestic deposits reached ₹15.37 lakh crore, registering a 1.7% quarter-on-quarter and 12.2% year-on-year increase.
Global advances rose to ₹11.31 lakh crore, showing a 1.3% increase both quarter-on-quarter and 9.9% year-on-year. Domestic advances stood at ₹10.80 lakh crore, also up 1.3% quarter-on-quarter and 9.7% year-on-year.
In a parallel move to enhance financial inclusion, PNB has waived penalty charges for non-maintenance of minimum average balance (MAB) in all savings accounts, effective July 1, 2025. This initiative is aimed at easing access to banking for priority segments such as women, farmers, and low-income households, by eliminating a key barrier to maintaining savings accounts.
PNB Managing Director and CEO Ashok Chandra said the waiver reflects the bank’s commitment to inclusive banking and is expected to reduce financial stress on customers while encouraging broader participation in the formal banking system.PNB Housing Finance
Global advances rose to ₹11.31 lakh crore, showing a 1.3% increase both quarter-on-quarter and 9.9% year-on-year. Domestic advances stood at ₹10.80 lakh crore, also up 1.3% quarter-on-quarter and 9.7% year-on-year.
In a parallel move to enhance financial inclusion, PNB has waived penalty charges for non-maintenance of minimum average balance (MAB) in all savings accounts, effective July 1, 2025. This initiative is aimed at easing access to banking for priority segments such as women, farmers, and low-income households, by eliminating a key barrier to maintaining savings accounts.
PNB Managing Director and CEO Ashok Chandra said the waiver reflects the bank’s commitment to inclusive banking and is expected to reduce financial stress on customers while encouraging broader participation in the formal banking system.PNB Housing Finance
In a separate development, PNB Housing Finance Limited announced that its board has recommended a proposal for the issuance of non-convertible debentures (NCDs) aggregating up to ₹10,000 crore.
The proposal will be placed before shareholders for approval at the upcoming annual general meeting. The NCDs will be issued on a private placement basis in one or more tranches, subject to applicable regulatory approvals.
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