Page 2 - Punjab & Sind Bank

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

Punjab & Sind Bank seeks bids to sell Rs 403 cr bad loans in 9 accounts

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

Punjab & Sind Bank Q2FY25 results: Net profit grows 26% to Rs 240 cr

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 .

Punjab Sind Bank to raise upto Rs 3K cr via Infra bonds, appoint bankers

Set to appoint merchant bankers for proposed QIP

11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance

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

Punjab & Sind Bank Q1FY25 results: Net profit rises 19% to Rs 182 cr

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 ...

MTNL defaults on Rs 37.5 crore Punjab & Sind Bank loan instalment

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

IOB, UCO Bank likely to raise funds through QIP route next month

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

Punjab & Sind Bank plans to open 100 branches, as many ATMs this fiscal

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 ...