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Punjab National Bank vs. Bank of Baroda: A Comparative Glimpse into FY2025 Growth
A comparative analysis of Punjab National Bank and Bank of Baroda's FY2025 growth highlights BoB's stronger performance in global business, deposits, and advances, reflecting robust banking sector recovery.
Author: Neha Bodke
Published: April 14, 2025
Public sector banks Punjab National Bank (PNB) and Bank of Baroda (BoB) have released their financial performance for the fiscal year ending March 31, 2025, under SEBI's Listing Obligations and Disclosure Requirements. Both banks reported growth across major parameters such as global business, deposits, and advances, signaling continued momentum in their operations amidst an evolving economic landscape.
PNB Posts 14% Growth in Global Business
According to its provisional data, PNB’s global business stood at ₹26,83,151 crore as on March 31, 2025, registering a year-on-year (YoY) growth of 14% and a quarter-on-quarter (QoQ) growth of 1.6%. The bank’s domestic business reached ₹25,77,274 crore, growing by 13.2% YoY.
On the deposits front, PNB reported global deposits of ₹15,65,744 crore, reflecting a 14.3% YoY increase. Domestic deposits contributed ₹15,10,456 crore to this figure, growing 13.3% YoY. Global advances saw a YoY increase of 13.6%, amounting to ₹11,17,407 crore, while domestic advances increased by 13.2% to ₹10,66,818 crore.
PNB’s Global Credit-Deposit (CD) Ratio for March 2025 stood at 71.37%, a marginal drop from the previous quarter's 72.58%.
Image: PNB reports ₹26.83 lakh crore global business, 14% YoY growth
Bank of Baroda Reports 11.44% Growth in Global Business
Bank of Baroda (BoB), another leading public sector lender, recorded a provisional global business of ₹27,03,023 crore as of March 31, 2025—up 11.44% from ₹24,25,643 crore in the previous year. The bank's global deposits rose to ₹14,72,053 crore, a 10.25% YoY growth. Domestic deposits contributed ₹12,42,180 crore to this, marking a 9.28% YoY rise.
The bank’s global advances grew by 12.88% to ₹12,30,970 crore. Domestic advances stood at ₹10,21,120 crore, reflecting a YoY growth of 13.7%. A notable highlight was the bank’s retail advances (excluding pool purchases), which climbed by 19.38% to ₹2,56,589 crore, from ₹2,14,942 crore a year ago.
Image: Bank of Baroda posts ₹27.03 lakh crore business, 11.44% growth
PNB vs. Bank of Baroda: Comparative Performance
While PNB posted stronger growth in global and domestic deposits, BoB led in retail advances and maintained a slightly larger overall business size.
Quarterly Growth Trends
PNB's quarter-on-quarter data shows steady progression from ₹26,39,991 crore in December 2024 to ₹26,83,151 crore in March 2025. Advances and deposits both registered moderate QoQ growths—global advances by 0.6% and global deposits by 2.4%.
Bank of Baroda did not provide quarterly comparisons but reported robust YoY increases in all key areas, reinforcing its focus on credit expansion and deposit mobilization.
Audit Status
Both banks clarified that the provisional figures are subject to statutory audit. For PNB, the CD ratio and other metrics have been noted as subject to verification by statutory auditors. BoB’s disclosure also mentions audit/review processes.
Conclusion
The financial results indicate that both Punjab National Bank and Bank of Baroda have managed to maintain positive growth trajectories despite sectoral challenges. PNB’s performance appears stronger in deposit accretion, while BoB’s advance figures—particularly in the retail segment—show strategic depth.
As the banking sector gears up for potential changes in monetary policy and credit demand, these performance disclosures set the stage for a competitive FY26, with both banks positioned as key players in public sector banking.