Punjab & Sind Bank

Govt extends tenure of Punjab & Sind Bank MD S K Saha till Feb 2027

According to an official notification issued by the Department of Financial Services under the Ministry of Finance, Saha's current term was set to end on June 2, 2025

Punjab & Sind Bank, IoB chiefs likely to get extended tenures soon

"Granting extension of tenures to PSB & IOB MDs is at a final stage. Both MDs have two years of services left. The final notification will come soon," said the source

Mudra loan provided by Punjab & Sind Bank generates 1 million jobs: MD

Mudra loans provided by Punjab & Sind Bank over the last 10 years have been able to generate 10 lakh jobs at the grassroot level, the bank's managing director Swarup Kumar Saha said. Sharing the journey of Pradhan Mantri Mudra Yojana (PMMY) over the past 10 years, Saha said, the bank has disbursed loans to the tune of Rs 12,820 crore under the scheme, benefiting over 6.84 lakh beneficiaries across the country. "These include small vendors, women entrepreneurs, artisans, and youth, who are now empowered to become economically self-reliant. About 44 per cent of our disbursals have been under the Shishu (loans up to Rs 50,000) category, which speaks about our focus on first-time borrowers and grassroots entrepreneurship," he told PTI. Punjab & Sind Bank has enabled entrepreneurs to establish and expand their businesses, leading to employment generation, he said, adding, "So far approximately 10 lakh employment have been generated by the bank through this scheme at the grassroots .

RBI imposes ₹75 lakh penalty on HDFC Bank, ₹68.2 lakh on Punjab & Sind Bank

According to RBI, the HDFC Bank did not categorise certain customers into low, medium or high risk category based on its assessment and risk perception

Punjab & Sind Bank shares soar 13% after setting floor price for QIP

Punjab & Sind Bank's stock rose as much as 13.08 per cent during the day to ₹50.5 per share, the biggest intraday gain since January 14 this year

Punjab & Sind Bank fixes floor price for QIP at Rs 40.38 per share

State-owned Punjab & Sind Bank on Monday fixed the floor price of Rs 40.38 per share to raise funds through QIP. The bank has proposed to raise Rs 2,000 crore through Qualified Institutional Placement (QIP). The board in its meeting approved and adopted the preliminary placement document dated March 24, 2025, together with the application form in connection with the issue, Punjab & Sind Bank said in a regulatory filing. The board also approved the floor price of the issue at Rs 40.38 based on the pricing formula as prescribed by Sebi regulations, it added. The bank may offer a discount of not more than 5 per cent on the floor price so calculated for the issue, it said.

Govt seeks advisers for minority stake sales in state-run banks, firms

The federal finance ministry is looking dilute minority shareholdings in Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank

Central Bank, IOB, UCO Bank rise up to 4% in trade on Feb 25; here's why

The uptick in these stocks came after the DIPAM invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions

Will make investments in digital in FY26: Punjab & Sind Bank MD & CEO

Says the public sector bank aspires to increase its Retail, Agriculture, and MSME (RAM) lending to around 60 per cent next year

Punjab and Sind Bank to raise Rs 2K cr via QIP this quarter: CEO Saha

State-owned Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement (QIP) during the ongoing quarter, a top official of the bank said. The bank has already appointed merchant bankers and legal advisers for the proposed QIP, Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. "With the QIP, the government holding in the bank would come down 3-4 per cent and capital adequacy ratio would rise at the end of March 2025," he said. The government of India holds 98.25 per cent stake in Punjab & Sind Bank at the end of December 2024, he said. The government has extended the deadline for meeting minimum public shareholding norms for central public sector enterprises and public sector financial institutions till August 2026. Out of 12 public sector banks (PSBs), five are yet to comply with minimum public shareholding (MPS) norms and the government's holding is beyond 75 per cent. As per the Securities and Exchange Board of India ..

Punjab & Sind gains 12% on posting strong Q3 nos; profit jumps multifold

he bank reported a 147 per cent increase in net profit for the quarter ended December 31, 2024, at Rs 282 crore as compared to Rs 114 crore a year ago

Punjab & Sind Bank Q3FY25 results: Net profit jumps two-fold to Rs 282 cr

State-owned Punjab & Sind Bank on Wednesday reported a more than two-fold jump in its net profit to Rs 282 crore in the December 2024 quarter as bad loans declined. The Delhi-headquartered bank had earned a net profit of Rs 114 crore a year ago. The bank's total income increased to Rs 3,269 crore during the quarter under review against Rs 2,853 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing. The interest income also rose to Rs 2,931 crore compared to Rs 2,491 crore in the year-ago period. On the asset quality front, gross non-performing assets (NPAs) declined to 3.83 per cent of the gross loans by the end of December 2024 from 5.70 per cent a year ago. Similarly, net NPAs or bad loans came down to 1.25 per cent from 1.80 per cent at the end of the third quarter of the previous fiscal. The Provision Coverage Ratio (including Technically Written Off) as at December 31, 2024, works out to 89.53 per cent against 88.16 per cent at the end of ...

Q3 results Jan 15: HDFC Life, L&T Tech, PSB among 24 to post earnings today

Q3FY25 company results today: HDFC Life, L&T Tech, Oracle Financial Services, CEAT, Punjab & Sind Bank, and Bank of Maharashtra will release their reports for the Oct-Dec 2024 quarter

Supertech lender rejects settlement proposal; NCLAT to decide on insolvency

Punjab & Sind Bank, the lead lender of Supertech Township Projects, has rejected the settlement proposal and NCLAT will now take a final decision on the insolvency of the debt-ridden realty firm. Counsel representing Ram Kishore Arora, the suspended director of the realty firm informed NCLAT on Thursday about the rejection of the settlement proposal. "Counsel for the appellant (Arora) submits that they have received the communication from Punjab & Sind Bank that the proposal submitted by the appellant is not acceptable," noted an NCLAT order recording the submissions. A three-member bench of the National Company Law Appellate Tribunal (NCLAT) said it will have to take a "final decision" in the matter as the appeal has been pending for the last several months. "As a last opportunity, one-week time is allowed to the appellant," said NCLAT directing to list the matter on January 23 for the next hearing. Supertech Township Projects is developing a Group Housing Project - Golf ...

Punjab & Sind Bank secures Rs 3,000 cr via 10 yr infra bond at 7.74%

IIFCL Rs 1,290 crore in two tranches with varying maturities

Punjab & Sind Bank raises Rs 3,000 cr through maiden infrastructure bonds

State-owned Punjab & Sind Bank on Wednesday raised Rs 3,000 crore from issuance of maiden infrastructure bonds aimed at expanding infra lending. The bank received total bids of Rs 6,031 crore against the base issue size of Rs 500 crore, Punjab & Sind Bank said in a regulatory filing. Further, it said, the bank has decided to accept bids of Rs 3,000 crore at coupon rate of 7.74 per cent per annum. In accordance with RBI guidelines, these papers with a tenure of 10 years would be listed on the National Stock Exchange (NSE) for trading. These unsecured, subordinated, redeemable, non-convertible, taxable, fully paid-up long term bonds in the nature of debentures have a face value Rs 1 lakh each, it said. Allotment of bonds to successful bidders would be done on Friday, it added. Domestic investors have shown a lot of interest in such bond issuance by banks, and many lenders have exercised this option for raising resources in the recent past. The advantage of infrastructure bonds ..

Punjab & Sind Bank plans to raise Rs 3,000 cr from infra bonds this month

State-owned Punjab & Sind Bank plans to raise Rs 3,000 crore from maiden infrastructure bonds this month as part of exercise to raise resources to expand loan book. "We have taken board approval for raising Rs 5,000 crore from infrastructure bonds in tranches. As against that, the bank proposes to raise Rs 3,000 crore in the first tranche," Punjab & Sind Bank Managing Director and CEO Swarup Kumar Saha said. Asked about the timing of fundraise, he said, it would be tentatively in the third week of this month. The base issue size is going to be Rs 500 crore, with a greenshoe option of Rs 2,500 crore. In accordance with RBI guidelines, these papers would have a tenure of 10 years. They have been rated as 'AA' by domestic rating agencies. The bank proposes to utilise the proceeds in the next two quarters. These bonds would be listed on the National Stock Exchange (NSE) for trading. The bank is aiming at the credit growth of 13-14 per cent during the current financial ...

UCO Bank, Central Bank rise up to 9% in trade: here's why PSBs are surging

Among others, UCO Bank and Central Bank gained over 9 per cent and over 7 per cent respectively. Indian Overseas Bank shares were up over 6 per cent

Punjab & Sind Bank eyeing Rs 3,000 crore through infrastructure bonds

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

Stocks to watch, Nov 11: Asian Paints, Britannia, Vedanta, REC, Tata Motors

Stocks to watch on Monday, November 11, 2024: Here are few stocks that will be in spotlight