PNB MD & CEO Ashok Chandra expects core retail loan growth of 17-18% and MSME lending growth of about 21% in the current quarter, supported by the festive season. Agriculture priority-sector lending grew 18% and is expected to keep its momentum. PNB sanctioned corporate loans worth Rs 2.5 lakh crore in the first two quarters of the current fiscal year, compared with Rs 4 lakh crore in the entire previous year, while corporate loan-book growth is kept at around 10-11%. Replacing lower-yielding advances with higher-yielding loans helped domestic NIM rise by more than 10 basis points and global NIM by 8 basis points in the quarter. Chandra said the recent 25-basis-point repo rate hike could add about 7 basis points to NIM, and the bank's ALCO will review lending and deposit rates in the coming months.
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- Festive demand to drive PNB retail loan growth to 17 - 18 %, MSME credit to grow 21 %: MD Ashok Chandra
- Festive demand to drive PNB retail loan growth to 17 - 18 %, MSME credit to grow 21 %: MD Ashok Chandra
Punjab National Bank (PNB) expects core retail loan growth of 17–18% and MSME lending growth of about 21% in the current quarter, with the festive season supporting credit demand. Agriculture priority-sector lending is expected to keep growing at about 18%. The bank sanctioned ₹2.5 lakh crore in corporate loans in the first two quarters of the year, versus ₹4 lakh crore in the entire previous year, while shifting to higher-yielding loans, which lifted domestic and global net interest margins (NIM) by more than 10 and 8 basis points. MD & CEO Ashok Chandra said a recent 25-basis-point repo rate hike could add about 7 basis points to NIM, and the bank's ALCO will review lending and deposit rates in the coming months.
- Credit growth likely to see addition up to 2 % in the ongoing quarter , says PNB MD Chandra
Ashok Chandra, MD and CEO of Punjab National Bank (PNB), told BusinessLine that credit growth this quarter could add up to 2 percentage points to overall growth, with retail, agri and MSME lending expected to rise by at least 1–2% more. The bank used its entire FCNR(B) deposit pool, about $2.7 billion, to repay high-cost bulk deposits and certificates of deposit, lifting domestic NIM by 10 basis points and global NIM by 8 basis points in one quarter. He expects overall credit growth of 14–15% this quarter, with MSME growth of 21–22% and agri growth of 18–19%. Loan rates are repriced the next working day after any change, with about 7 basis points of benefit expected from the recent repo hike, while deposit rates are expected to stay elevated for now. PNB plans to raise around $1 billion via MTN and has board approval for about ₹10,000 crore of infrastructure bonds, with timing dependent on market conditions.
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