From Financialexpress · Kshipra Petkar · · 1m 20s
BoI and J&K Bank Report Strong Q2 Growth
Bank of India and Jammu & Kashmir Bank show record loan growth in Q2 with 20.4% and 23.7% year-on-year increases.
In brief
Bank of India and Jammu & Kashmir Bank show record loan growth in Q2 with 20.4% and 23.7% year-on-year increases. Bank of India and Jammu & Kashmir Bank reported strong loan growth in Q2, with gross advances rising 20.4% and 23.7% year-on-year. Originally reported by Financialexpress.
Bank of India and J&K Bank Report Strong Q2 Growth
Bank of India and Jammu & Kashmir Bank reported strong growth in their loan books for Q2, with gross advances rising 20.4% and 23.7% year-on-year.
BoI's Global Advances Reach Rs 8.54 Lakh Crore
Bank of India's global gross advances rose to Rs 8.54 lakh crore as of September-end, with global deposits increasing 21.6% to Rs 10.38 lakh crore.
BoI's Domestic Advances Grow 17.7% to Rs 7.03 Lakh Crore
Domestic advances increased 17.7% to Rs 7.03 lakh crore, while domestic deposits rose 23.3% to Rs 9 lakh crore.
J&K Bank's Gross Advances Surge 23.7% to Rs 1.34 Lakh Crore
Jammu & Kashmir Bank recorded a 23.7% year-on-year increase in gross advances to Rs 1.34 lakh crore, ahead of 16.3% deposit growth.
J&K Bank's CASA Ratio Drops 388 Basis Points
The bank’s current account and savings account ratio declined 388 basis points year-on-year to 42.01%.
Other Banks Show Strong Credit Growth
Punjab National Bank, Canara Bank, UCO Bank, and others reported strong loan growth, with credit-deposit ratios rising significantly.
What it means
Bank of India and Jammu & Kashmir Bank reported strong loan growth in Q2, with gross advances rising 20.4% and 23.7% year-on-year.
