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 | Finance, FOREX, Retail Banking |
| Revenue |  ₹8,826.92 crore (US$1.1 billion)(2020)[1] |
| ₹1,096.91 crore (US$140 million) (2020)[1] | |
| ₹−990.80 crore (US$−120 million) (2020)[1] | |
| Total assets | ₹100,503.80 crore (US$13 billion) (2020) [1] |
| Total equity |  ₹701.05 crore (US$88 million) (2020) [1] |
| Owner | Government of India (83.06%) [1] |
Number of employees | 8862 (March 2020)[1] |
| Capital ratio | 12.76% (2020) |
| Website | psbindia |
Punjab & Sind Bank is a government-owned bank (80.28%)[2], with headquarters in New Delhi. The bank has overall 1559 branches which are widely spread across India, out of which 623 branches are in Punjab state.
History
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 1.60 lac crore in business.
Sutlej Gramin Bank was a Regional Rural Bank sponsored by Punjab & Sind Bank.
Highlights
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$30 million) by the Bhushan Power & Steel Limited.[4]
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 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 |
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
- 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
- ^ 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/history1.php
- ^ "Punjab & Sind Bank flags fraud in Bhushan Power account". Livemint. 17 July 2019.
