Punjab & Sind Bank

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.

Punjab & Sind Bank
Public
Traded asBSE: 533295
NSE: PSB
IndustryBanking
Financial services
Founded24 June 1908 (1908-06-24)
HeadquartersRajendra Place New Delhi, India
Key people
  • Dr. Charan Singh
    (Non-Exe Chairman)
  • S. Hari Shanker
    (MD & CEO)
ProductsFinance, FOREX, Retail Banking
Revenue ₹8,826.92 crore (US$1.2 billion)(2020)[1]
₹1,096.91 crore (US$150 million) (2020)[1]
₹-990.80 crore (US$−140 million) (2020)[1]
Total assets₹100,503.80 crore (US$14 billion) (2020) [1]
Total equity₹701.05 crore (US$98 million) (2020) [1]
OwnerGovernment of India (83.06%) [1]
Number of employees
8862 (March 2020)[1]
Capital ratio12.76% (2020)
Websitepsbindia.com


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$33 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
#ParticularsFY 2016-17FY 2015-16 FY 2017-18 FY 2018-19
ADeposits (' INR crores)85,540.1691,249.96 1,01,726.17 98,557.60
BAdvances (' INR crores)60,263.0965,277.22 69,738.78 72,747.47
CTotal Business (A+B) (' INR crores)1,45,803.251,56,527.18 1,71,464.95 1,71,305.07
DTotal Assets (' INR crores)97,753.40
94,641.07
 1,11,591.84 1,06,973.01
EOperating Profit (' INR crores)1241.881269.89
FNet Profit(' INR crores)201.08335.97 (-743.80) (-543.48)
GBusiness/Employee (' INR crores)
HNet Interest Margin (NIM) (%)2.162.22
IReturn on assets (%)0.200.34 (-0.69) (-0.47)
JGross NPAs (%)10.456.48 11.19 11.83
KNet NPAs (%)7.514.62 6.93 7.22
LTotal Branches15021400 1400 1400
MTotal ATM's14001300 1400+ 1500+
gollark: What of it? Human brains are very glitchy.
gollark: I have ominous "oh bee a thing is behind me" feelings sometimes. However, this is not actually *true*.
gollark: It's evidence, sure, but weak.
gollark: The feeling of something is very different to a thing, though.
gollark: Did you know? An invisible swarm of bees is behind you.

See also

References
  1. "Annual Report of Punjab & Sind Bank" (PDF).
  2. "Shareholding Pattern". www.bseindia.com. Retrieved 4 January 2020.
  3. https://www.psbindia.com/history1.php
  4. "Punjab & Sind Bank flags fraud in Bhushan Power account". Livemint. 17 July 2019.
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