Punjab & Sind Bank

Punjab & Sind Bank is a public sector bank (83.06%)[4] owned by the Government of India with its Head Office located in New Delhi. As on 31 March 2020, the bank has 1526 branches which are widely spread across India, out of which 635 branches are in Punjab state. The bank has 25 Zonal Offices located all over India.[5]

Punjab & Sind Bank
TypePublic
BSE: 533295
NSE: PSB
IndustryBanking
Financial services
Founded24 June 1908 (1908-06-24)
HeadquartersRajendra Place New Delhi, India
Key people
  • Dr. Charan Singh
    (Non-Exe Chairman)
  • S Krishnan
    (MD & CEO[1])
  • Ajit Kumar Das
    (Executive Director[2])
ProductsConsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, wealth management
Revenue ₹8,826.92 crore (US$1.2 billion)(2020)[3]
₹1,096.91 crore (US$150 million) (2020)[3]
₹−990.80 crore (US$−140 million) (2020)[3]
Total assets₹100,503.80 crore (US$14 billion) (2020) [3]
Total equity₹701.05 crore (US$98 million) (2020) [3]
OwnerGovernment of India (83.06%) [3]
Number of employees
8862 (2020)[3]
Capital ratio12.76% (2020)
Websitepsbindia.com

History

The bank was established in Amritsar on 24 June 1908 by Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh.[6]

On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalised in the second wave of nationalisation. (The first wave had been in 1969 when the government nationalised the top 14 banks.)

In the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987.

Since 2004, the bank has shown growth of over 40% year on year, and its IPO was oversubscribed by more than 50 times.

Highlights

In FY 2019-20 Punjab & Sind Bank recorded a Net Loss of Rs.990.80 crore.[7]

  • Total business of the bank stood at Rs. 1,52,231.75 crore.
  • The operating profit for the year ending 2019-20 is Rs. 1097 crores.
  • Gross NPA is 14.18% for the year ending 2019-20 amounting to Rs 8875 crores.
  • Net NPA is 8.03% for the year ending 2019-20 amounting to Rs 4684 crores.
  • Provision Coverage Ratio as on 31 March 2020 stood at 66.74%.
  • The Net Worth of the bank stood at Rs. 2917 crore as on 31.03.2020.
  • Total Income of the bank during the year stood at Rs 8827 crore.

The Capital Adequacy Ratio (Basel III) of the Bank is 12.76% as on 31.03.2020.

On 16 July 2019, Punjab & Sind Bank disclosed that it detected a fraud, worth ₹238 crore (US$33 million) by the Bhushan Power & Steel Limited.[8]

Products

Financial performance
#ParticularsFY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20
ADeposits (' INR crores)85,540.161,01,726.1798,557.6089,667.55
BAdvances (' INR crores)60,263.0969,738.7872,747.4762,564.20
CTotal Business (A+B) (' INR crores)1,45,803.25 1,71,464.95 1,71,305.07 1,52,231.75
DTotal Assets (' INR crores)97,753.40 1,11,591.84 1,06,973.01
EOperating Profit (' INR crores)1241.881144.711396.861096.91
FNet Profit(' INR crores)201.08(-743.80)(-543.48)(-990.80)
GNet Interest Margin (NIM) (%)2.161.981.88
HReturn on assets (%)0.20(-0.69)(-0.47)(-0.91)
IGross NPAs (%)10.4511.1911.8314.18
JNet NPAs (%)7.516.937.228.03
KTotal Branches1500151415181526
LTotal ATM's14001400+1500+1500+

See also

References
  1. https://www.psbindia.com/content/mgmt
  2. https://www.psbindia.com/content/mgmt
  3. "Annual Report of Punjab & Sind Bank" (PDF).
  4. "Shareholding Pattern". www.bseindia.com. Retrieved 4 January 2020.
  5. https://www.psbindia.com/content/zonal-offices
  6. https://www.psbindia.com/history1.php
  7. https://www.bseindia.com/bseplus/AnnualReport/533295/5332950320.pdf
  8. "Punjab & Sind Bank flags fraud in Bhushan Power account". Livemint. 17 July 2019.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.