"The bank has already floated a Request for Proposal to finalise a partner in the Fintech space, and we hope to conclude the process soon," Punjab & Sind Bank managing director Swarup Kumar Saha told PTI
The bank had posted a net profit of Rs 301 crore in the same quarter a year ago
As far as capital adequacy is concerned, the bank is well-capitalised at 15.68 per cent and it can easily take care of business growth this year, he told PTI in an interaction
Public sector lender Punjab & Sind Bank on Saturday reported a 25 per cent decline in net profit to Rs 153 crore for the June 2023 quarter, partly due to the provision of wage revision and fresh slippages
CASA ratio, the low cost deposit base, of the state-owned bank stood at 33.36 per cent (Rs 35,102 crore) at the end of September, 2022. Higher CASA ratio pushes profitability of banks as banks can earn higher spreads
The measures taken by PSB to address potential delinquency include renewed focus on retail, agriculture and MSME sectors while learning from past mistakes in the corporate sector
The state-owned bank's total recovery and upgradation stood at Rs 1,178 crore in the three quarters of the current financial year
The move comes after the company has revalued itself at Rs 5,257 crore now after the deal with Cube Highways of Singapore failed last year, due to regulatory delays, for a consideration of Rs 3,900 crore.
An analysis of data disclosed by various lenders for the third quarter showed that BoM was followed by Punjab & Sind Bank which posted a 10.87 per cent growth...