Punjab and Sind Bank Q2 profit slips 78%

State-owned Punjab and Sind Bank (PSB) today reported a 77.8 per cent decline in net profit at Rs 13.70 crore for the second quarter ended September, mainly due to rise in bad loans. 

Net profit of the bank stood at Rs 61.89 crore for the same quarter a year ago. 

Total income also declined to Rs 2,166.64 crore in the second quarter from Rs 2,203.74 crore in the corresponding period a year earlier, PSB said in a statement. 

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Punjab & Sind Bank Q1 net profit rises

Punjab & Sind Bank today announced the financial results for the Quarter ended June,2017. The Bank has earned an operating profit of Rs 305.44 crore. 

Net Profit of Rs 25.37 crore for the quarter ended June,2017 as compared to Rs 8.33 crore in last quarter.

In comparison to last quarter, Net profit of the bank as on 30.06.2017 surged to Rs 25.37 crore registering a growth of 204.56%. 

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Number of public sector banks may go down to 12 as govt mulls consolidation

The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said.

The 21 public sector banks would get consolidated to 10- 12 in the medium term, the official said. As part of a three-tier structure, the official said, there would be at least 3-4 banks of the size of State Bank of India (SBI), the country’s largest lender.

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PSB merger: 7 banks miss August deadline to meet 25% public float norm

As discussions on the merger of some public-sector banks (PSBs) pick up pace, seven PSBs, especially United Bank of India, could miss the August deadline to meet the 25% public float norm. So the finance ministry may request capital markets regulator Securities and Exchange Board of India to extend the deadline for the PSBs, sources told FE. As of end-March, the government held more than 75% in seven PSBs — United Bank of India, Indian Bank, Bank of Maharashtra, Central Bank ofIndia, Punjab and Sind Bank, Indian Overseas Bank and UCO Bank.

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Punjab & Sindh bank merge with PNB and IOB merge with BOB

The government today said it is examining the possibility of further consolidation in the public sector banking space without waiting for their finances to improve.Merger of five associate banks and Bhartiya Mahila Bank with the country's largest lender SBI took place in April.

"Internally there was a thinking after the SBI amalgamation took place to wait for the rest till the health of the banks improve.

"We have now relooked at the whole system and there are some institutions within the public sector banks which can be consolidated even in the present circumstances. We are seriously examining them," Finance Minister Arun Jaitley told CNBC TV18.

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Punjab & Sind Bank Q4 result, profit falls 91.5% to Rs8.33 crore

Punjab & Sind Bank on Tuesday said its net profit for the March quarter fell 91.5% from a year ago as the bank made higher provisions due to rising bad loans and advances slowed down.

Net profit was at Rs8.33 crore against Rs98.12 crore a year ago. During the quarter, the bank took a tax write-back of Rs72.78 crore, as against tax expenses of Rs72.14 crore a year ago. Excluding this tax write-back, the bank would have reported a net loss.

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Punjab & Sind Bank Q3 result, profit up 10% at Rs 77.5 cr

State-owned Punjab & Sind Bank today reported a rise of 10.2 percent in net profit at Rs 77.51 crore for the third quarter ended December 2016, on lower provisioning for bad assets. 

The bank had registered a net profit of Rs 70.32 crore in the corresponding October-December period of previous fiscal. Total income of the bank, however, fell to Rs 2,158.01 crore during the quarter under review from Rs 2,260.56 crore a year ago, the bank said in a regulatory filing. 

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Punjab & Sind Bank Q1 Result, Profit rises 24% to Rs 53 cr

State-owned Punjab & Sind Bank (PSB) today reported a 23.6 percent increase in net profit to Rs 53.3 crore for the first quarter ended June 30. 

The bank had a net profit of Rs 43.1 crore in the same quarter of the previous fiscal. 

However, the total income of the bank declined to Rs 2,279.11 crore during the quarter from Rs 2,356.30 crore in the same period a year ago, PSB said in a statement. 

Gross non-performing assets (NPAs), or bad loans, rose to 7.23 percent of gross advances compared to 5.17 percent a year ago. 

At the same time, net NPAs also increased to 5 percent of net advances, from 3.65 percent in the first quarter a year ago. 

Despite increase in bad loans, the total provision of the bank declined to Rs 190.74 crore as against Rs 216.30 crore a year earlier.

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Punjab & Sind Bank logs Rs 98 cr profit in Q4

State-run Punjab & Sind Bank today reported a profit of Rs 98.12 crore for the March quarter despite increase in bad loans.

The bank had posted a loss of Rs 70.24 crore during the corresponding quarter of the previous fiscal.

Total income during the quarter rose to Rs 2,302.27 crore as against Rs 2,234.90 crore in the year-ago period.
Gross NPAs as a percentage of total advances surged to 6.48 per cent from 4.76 per cent a year ago.

The bank's net NPAs increased to 4.62 per cent compared with 3.55 per cent at the end of March 2015.

The bank, meanwhile, has recommended a dividend of Rs 1.65 per unit for 2015-16.

For entire fiscal, the bank's net profit rose threefold to Rs 336 crore compared with Rs 121 crore in the previous year.

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History of Punjab & Sind Bank

Punjab & Sind Bank is a government-owned bank (79.62%), with headquarters in New Delhi. Of its 1466 branches spread throughout India, 623 branches are in Punjab state. Its net profit is Rs. 121.35 crores and net NPA is 3.55% for the year ending 2014-15. The bank's operating profit for the year ending 2014-15 is Rs. 775.45 crores. Total business of the bank was Rs. 1,51,511 crores for the year ending 2014-15 and Business per employee is Rs. 15.95 crore.

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