Punjab & Sind Bank

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Punjab & Sind Bank
Public
Traded asBSE533295
NSEPSB
IndustryBanking
Financial services
Founded24 June 1908; 111 years ago (1908-06-24)
HeadquartersRajendra Place New Delhi, India
Key people
  • Dr. Charan Singh
    (Non-Exe Chairman)
  • S. Hari Shanker
    (MD & CEO)
ProductsFinance, FOREX, Retail Banking
RevenueIncrease8,558.67 crore (US$1.2 billion)(2019)[1]
Increase(-543.48) crore (US$−79 million)(2019)[1]
Total assetsIncrease106,973.01 crore (US$15 billion) (2019)[1]
OwnerGovernment of India
Number of employees
9,320 (2018)[2]
Capital ratio11.25% (2018)
Websitepsbindia.com

Punjab & Sind Bank is a government-owned bank (79.62%), with headquarters in New Delhi. Of its 1559 branches spread throughout India, 623 branches are in Punjab state.


History[edit]

On 24 June 1908, Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh established Punjab & Sind Bank.[3]

On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalised in the second wave of nationalisations. (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 Punjab & Sind has shown growth of over 40% year on year, and its recent IPO was oversubscribed by more than 50 times. Recently the bank crossed a mark of Rs 1 lac crore in business.

Sutlej Gramin Bank was a Regional Rural Bank sponsored by Punjab & Sind Bank.

Highlights[edit]

In FY 2018-19 Punjab & Sind Bank reported net loss of 543 crore rupees after FY 2017-18's loss of 743.80 crore rupees.

  • Total business of the bank was Rs. 1,71,305.07 crores for the year ending 2018-19.
  • Net worth of the bank as on 31.03.19 is Rs. 3652.26 crore.
  • The bank's operating loss for the year ending 2018-19 is Rs. 543.48 crores.
  • Net NPA is 7.22% for the year ending 2018-19 is 4994.23 crores.

On 16 July 2019, Punjab & Sind Bank disclosed that it detected a fraud, worth 238 crore (US$34 million) by the Bhushan Power & Steel Limited.[4]

Products[edit]

Financial performance[edit]

# Particulars FY 2016-17 FY 2015-16 FY 2017-18 FY 2018-19
A Deposits (' INR crores) 85,540.16 91,249.96 1,01,726.17 98,557.60
B Advances (' INR crores) 60,263.09 65,277.22 69,738.78 72,747.47
C Total Business (A+B) (' INR crores) 1,45,803.25 1,56,527.18 1,71,464.95 1,71,305.07
D Total Assets (' INR crores) 97,753.40
94,641.07[edit]
1,11,591.84 1,06,973.01
E Operating Profit (' INR crores) 1241.88 1269.89
F Net Profit(' INR crores) 201.08 335.97 (-743.80) (-543.48)
G Business/Employee (' INR crores)
H Net Interest Margin (NIM) (%) 2.16 2.22
I Return on assets (%) 0.20 0.34 (-0.69) (-0.47)
J Gross NPAs (%) 10.45 6.48 11.19 11.83
K Net NPAs (%) 7.51 4.62 6.93 7.22
L Total Branches 1502 1400 1400 1400
M Total ATM's 1400 1300 1400+ 1500+

See also[edit]

References[edit]

  1. ^ a b c "Annual Report of Punjab & Sind Bank" (PDF).
  2. ^ business-standard.com/company/pun-sind-bank-5814/annual-report/director-report
  3. ^ https://www.psbindia.com/history1.php
  4. ^ "Punjab & Sind Bank flags fraud in Bhushan Power account". Livemint. 17 July 2019.

External links[edit]