Punjab & Sind Bank

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The bonds, rated 'AA' by domestic rating agencies CRISIL and IndiaRatings, have a base size of Rs 500 crore and a green-shoe option of Rs 2,500 crore

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Out of the nine accounts put up for sale by the lender, two accounts - Diksha Greens and Star Bazar Group - have been classified as "fraud" accounts, and only ARCs can bid for these accounts

State-owned Punjab & Sind Bank on Saturday reported a 26 per cent rise in net profit to Rs 240 crore in the September quarter on the back of reduction in bad loans. The lender had recorded a net profit of Rs 189 crore in the same quarter a year ago. Total income increased to Rs 3,098 crore during the quarter under review from Rs 2,674 crore a year earlier, Punjab & Sind Bank said in a regulatory filing. The bank earned an interest income of Rs 2,739 crore during the quarter, compared to Rs 2,406 crore in the same period a year ago. Return on asset of the bank improved to 0.65 per cent at the end of September 2024 as against 0.52 per cent at the end second quarter of previous financial year. Asset quality of the bank improved with gross non-performing assets declining to 4.21 per cent of the gross loans by the end of September 2024 from 6.23 per cent a year ago. Similarly, net NPAs, or bad loans, eased to 1.46 per cent from 1.88 per cent at the end of the second quarter of the .

Set to appoint merchant bankers for proposed QIP

For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments

State-owned Punjab & Sind Bank on Friday reported a 19 per cent rise in net profit to Rs 182 crore in the June 2024 quarter, helped by a decline in bad loans. The Delhi-based lender had earned a net profit of Rs 153 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 2,846 crore against Rs 2,494 crore a year ago, Punjab & Sind Bank said in a regulatory filing. Interest income grew to Rs 2,652 crore during the period under review from Rs 2,316 crore in the corresponding quarter a year ago. The bank's asset quality improved with Gross Non-Performing Assets (NPAs) declining to 4.72 per cent of gross advances as of June 30, 2024, against 6.80 per cent by the end of the April-June quarter in FY23. Net NPAs also declined to 1.59 per cent of the advances from 1.95 per cent at June-end FY24. Provisions for bad loans rose to Rs 103 crore against Rs 23 crore earmarked a year ago. The bank's Capital Adequacy Ratio also improved to 17.30 per cent ...

The telco owes Rs 5480 crore to the bank, it told exchanges

Another public sector bank, Punjab & Sind Bank, is planning to raise Rs 2,000 crore this year. The government holds 98.25 per cent in the state-owned bank

State-owned Punjab & Sind Bank plans to open 100 branches across the country in the current financial year as part of the strategy to expand its reach. During the year, the bank also plans to add 100 new ATMs to its network. "With the addition of 100 branches, the total number of branches would reach 1,665 by the end of 2024-25, and similarly, the number of ATMs would touch 1,135," Punjab & Sind Bank Managing Director Swarup Kumar Saha told PTI. The bank will continue to focus on branch expansion, and new branches would come up in areas other than the northern region, he said. Besides, he said, the bank also proposes to expand its reach through the Banking Correspondent (BC) channel. The bank plans to more than double its BC network during the current fiscal, he said, adding, that the bank is trying to expand this network to 4,000 by the end of the current financial year against 1,700 at present. The bank is working on customising more products and processes to improve ...

State-owned Punjab & Sind Bank plans to raise Rs 2,000 crore in the second half of this fiscal via Qualified Institutional Placement (QIP) to fund business growth. "The board has already given approval, and merchant bankers should be on-boarded by August," Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. The fundraising can be concluded in the second quarter or third quarter, depending on market conditions. The QIP would help improve the Capital Adequacy Ratio of the bank, he said. The bank's capital adequacy ratio stood at 17.10 per cent at the end of March 2024. Besides, it would help bring down the government's holding in the bank. The government of India holds a 98.25 per cent stake in Punjab & Sind Bank. Asked about the loan growth outlook for the current financial year, Saha said the bank expects asset book to grow by 12-14 per cent, and in this, retail, agriculture and MSME (RAM) should witness a growth of 15-18 per cent. On the deposit side,

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State-owned Punjab & Sind Bank on Friday posted a 70 per cent decline in net profit to Rs 139 crore for the fourth quarter ended March 2024 on account of provisioning for bad loans. The bank had earned a net profit of Rs 457 crore a year ago. However, the total income increased to Rs 2,894 crore during the quarter under review against Rs 2,652 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing. Interest income also grew to Rs 2,481 crore during the period under review from Rs 2,105 crore in the corresponding quarter of the preceding fiscal. On the asset quality side, the bank's gross non-performing assets (NPAs) moderated to 5.43 per cent of gross advances as of March 31, 2024, from 6.97 per cent at the end of March 2023. Its net NPAs also declined to 1.63 per cent of the advances from 1.84 per cent at the end of 2023. However, the bank made a Rs 111 crore provisioning for bad loans for the quarter under review. However, there was a write-back ..

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State-owned Punjab & Sind Bank on Wednesday reported a 69 per cent decline in its net profit to Rs 114 crore for the third quarter ended December 2023. The Delhi-headquartered bank had earned a net profit of Rs 373 crore in the same quarter a year ago. Its total income increased to Rs 2,853 crore during the quarter under review against Rs 2,245 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing. The interest income rose to Rs 2,491 crore against Rs 2,107 crore in the year-ago period. On the asset quality front, gross non-performing assets (NPAs) declined to 5.70 per cent of the gross loans by the end of December 2023 from 8.36 per cent a year ago. Similarly, net NPAs or bad loans came down to 1.80 per cent from 2.02 per cent at the end of the third quarter of the previous fiscal. Capital Adequacy Ratio of the bank improved to 16.13 per cent compared to 15.57 per cent at the end of December 2022. During the quarter, the bank crossed a business ...

The Reserve Bank on Friday said it has imposed penalties totalling Rs 2.49 crore on three banks, including Dhanlaxmi Bank and Punjab and Sind Bank, for contravention of regulatory norms. A penalty of Rs 1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances Statutory and Other Restrictions', KYC and certain norms related to interest rate on deposits, the Reserve Bank of India (RBI) said. Further, a fine of Rs 1 crore has been imposed on Punjab and Sind Bank for non-compliance with certain directions on 'Loans and Advances Statutory and Other Restrictions'. The central bank has also imposed a penalty of Rs 29.55 lakh on ESAF Small Finance Bank for non-compliance with the directions issued by it on 'Customer Service in Banks'. The penalties are based on the deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by the lenders with their customers,

Public sector lender Punjab & Sind Bank on Friday reported a 32 per cent decline in net profit to Rs 189 crore in the September quarter. The bank had reported a profit of Rs 278 crore in the year-ago period. Total income of the bank during the July-September period rose to Rs 2,674 crore against Rs 2,120 crore in the corresponding period of FY23, Punjab & Sind Bank said in a regulatory filing. The bank's gross Non-Performing Assets (NPAs) declined to 6.23 per cent of the gross advances at the end of September from 9.67 per cent in the same period last year. In value terms, gross NPAs (bad loans) of the Delhi-headquartered bank stood at Rs 5,106 crore by the end of the second quarter of the current fiscal, as against Rs 7,128 crore in the year-ago period. Net NPAs also came down to 1.88 per cent from 2.24 per cent in the second quarter of the last fiscal. Capital adequacy of the bank improved further to 17.23 per cent as against 15.68 per cent at the quarter, the filing ...

One of the major requisites for pensioners post their retirement is to provide life certificates to the authorised pension disbursing agencies like Banks, Post offices etc.

Punjab & Sind Bank has to pay a fine of Rs 1 crore for failing to comply with regulations