Punjab & Sind Bank
 | |
| Company type | Public |
|---|---|
| BSE: 533295 NSE: PSB | |
| Industry | Banking Financial services |
| Founded | 24 June 1908 |
| Headquarters | Rajendra Place New Delhi, India |
Key people | |
| Products | Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, wealth management |
| Revenue |  ₹8,826.92 crore (US$1.1 billion)(2020)[3] |
| ₹1,096.91 crore (US$130 million) (2020)[3] | |
| ₹−990.80 crore (US$−120 million) (2020)[3] | |
| Total assets | ₹100,503.80 crore (US$12 billion) (2020) [3] |
| Total equity |  ₹701.05 crore (US$84 million) (2020) [3] |
| Owner | Government of India (83.06%) [3] |
Number of employees | 8862 (2020)[3] |
| Capital ratio | 12.76% (2020) |
| Website | psbindia |
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]
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$29 million) by the Bhushan Power & Steel Limited.[8]
Products
- Debit card
- ATM
- Internet Banking
- Mobile Banking
- SMS Banking
- BHIM
- UPI
- POS Machine
- AADHAR PAY
- BHARAT QR
Financial performance
| # | Particulars | FY 2016-17 | FY 2017-18 | FY 2018-19 | FY 2019-20 |
|---|---|---|---|---|---|
| A | Deposits (' INR crores) | 85,540.16 | 1,01,726.17 | 98,557.60 | 89,667.55 |
| B | Advances (' INR crores) | 60,263.09 | 69,738.78 | 72,747.47 | 62,564.20 |
| C | Total Business (A+B) (' INR crores) | 1,45,803.25 | 1,71,464.95 | 1,71,305.07 | 1,52,231.75 |
| D | Total Assets (' INR crores) | 97,753.40 | 1,11,591.84 | 1,06,973.01 | |
| E | Operating Profit (' INR crores) | 1241.88 | 1144.71 | 1396.86 | 1096.91 |
| F | Net Profit(' INR crores) | 201.08 | (-743.80) | (-543.48) | (-990.80) |
| G | Net Interest Margin (NIM) (%) | 2.16 | 1.98 | 1.88 | |
| H | Return on assets (%) | 0.20 | (-0.69) | (-0.47) | (-0.91) |
| I | Gross NPAs (%) | 10.45 | 11.19 | 11.83 | 14.18 |
| J | Net NPAs (%) | 7.51 | 6.93 | 7.22 | 8.03 |
| K | Total Branches | 1500 | 1514 | 1518 | 1526 |
| L | Total ATM's | 1400 | 1400+ | 1500+ | 1500+ |
See also
- Banking in India
- List of banks in India
- Reserve Bank of India
- Indian Financial System Code
- List of largest banks
- List of companies of India
- Make in India
References
- ^ https://www.psbindia.com/content/mgmt
- ^ https://www.psbindia.com/content/mgmt
- ^ a b c d e f g "Annual Report of Punjab & Sind Bank" (PDF).
- ^ "Shareholding Pattern". www.bseindia.com. Retrieved 4 January 2020.
- ^ https://www.psbindia.com/content/zonal-offices
- ^ https://www.psbindia.com/history1.php
- ^ https://www.bseindia.com/bseplus/AnnualReport/533295/5332950320.pdf
- ^ "Punjab & Sind Bank flags fraud in Bhushan Power account". Livemint. 17 July 2019.
