Punjab National Bank (PNB) shares commenced the trading session on Wednesday, January 3, 2024, on a downward trend, contrasting the positive third-quarter update where the public bank presented commendable figures.
As of 10:35 am the shares were trading 1.13% lower at ₹95.90
The PNB stock faced a decline a day after the bank shared details of its robust performance in global and local advances as well as deposits. In its Q3 update, PNB highlighted a significant 13.5% year-on-year surge in global advances, reaching 9.72 lakh crore.
During the same period, the bank’s domestic advances witnessed a notable 13.9% increase, totaling 9.35 lakh crore. Despite these positive advances, the stock experienced a dip in its trading value.
In terms of deposits, PNB reported a 9.4% year-on-year growth in global deposits, amounting to Rs 13.24 lakh crore in the third quarter. Concurrently, domestic deposits showed a 9.1% increase, reaching Rs 12.89 lakh crore.
