The state-owned Punjab & Sind Bank (PSB) announced on Thursday that its net profit for the second quarter, which ended on September 30, increased by 29.5% to Rs 295 crore. During the July–September period of the previous fiscal year, the bank's net profit was Rs 240 crore.
PSB stated in a regulatory filing that its board has authorized the raising of capital up to Rs 5,000 crore in one or more tranches by March 2027. This entails raising Rs 2,000 crore through bonds and Rs 3,000 crore through QIP, FPO, and rights issues. At its meeting on Thursday, the board also approved raising Rs 3,000 crore by March 2027 in one or more tranches of long-term infrastructure bonds.
As per the quarterly results approved by PSB board, interest income rose to Rs 2,999 crore in the September quarter of FY26, from Rs 2,739 crore in the same quarter of FY25.
Gross Non-performing assets (NPA) improved to 2.92 per cent of loans in Q2, from 4.21 per cent in Q2 of FY25.
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