Punjab & Sind Bank Declares Financial Results For The Quarter Ended 30.6.2014
PUNJAB AND SIND BANK DECLARED ITS FINANCIAL RESULTS FOR THE QUARTER ENDED 30.6.2014 HIGHLIGHTS OF BANK’S PERFORMANCE ARE AS UNDER :
TOTAL BUSINESS OF THE BANK STOOD AT RS.137953 CRORE AS ON 30.06.2014 AGAINST RS 120893 CRORE AS ON 30.06.2013 THEREBY REGISTERING A GROWTH OF 14.11 % YEAR ON YEAR BASIS.
DEPOSITS OF THE BANK INCREASED TO RS.80335 CRORE ASON 30.06.2014 FROM RS. 70028 CRORE AS ON 30.06.2013 REGISTERING A GROWTH OF 14.72 % YEAR ON YEAR BASIS.
GROSS ADVANCES OF THE BANK ROSE TO RS. 57618 CRORE AS ON 30.06.2014 FROM RS.50865 CRORE AS ON 30.06.2013 THUS REGISTERING A GROWTH OF 13.28% YEAR ON YEAR BASIS.
BUSINESS PER EMPLOYEE STOOD AT RS.14.27 CRORE AS ON 30.06.2014
BANK EARNED OPERATING PROFIT OF RS. 197.58 CRORE & NET PROFIT OF RS.21.43 CRORE
GROSS NPAs OF THE BANK STOOD AT RS 3010.47 CR. AS ON 30.06.2014 THE GROSS NPA RATIO IS 5.22 % AS ON 30.06.2014.NET NPA STOOD AT AT RS.2200.63 CR. AS ON 30.06.2014 . THE NET NPA RATIO IS 3.87 % AS ON 30.06.2014.
CAPITAL TO RISK WEIGHTED ASSETS RATIO (CRAR) AS PER BASEL-II NORMS STOOD AT 11.75% AS ON 30.6.2014
COST TO INCOME RATIO STOOD AT 61.99% AS ON JUNE 2014..
BOOK VALUE PER SHARE STOOD AT RS. 145.37 AS ON 30.06.2014 .
NEW INITIATIVES
- SPECIALIZED RETAIL LENDING BRANCHES (SRLBS) HAVE BEEN OPENED BY THE BANK AT DELHI, CHANDIGARH, JAIPUR, KOLKATA, NAVI MUMBAI, CHENNAI, HYDERABAD AND BENGALURU.
THESE SRLBS HAVE BEEN EMPOWERED TO SANCTION ALL TYPES OF RETAIL LENDING PRODUCTS.
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- THE BANK HAS ENTERED INTO A TIE UP WITH M/S CONTINENTAL ENGINES LTD. (CEL) FOR FINANCING OF VEHICLES (THREE WHEELERS AND THEIR VARIANTS) MANUFACTURED BY THEM.
- THE BANK HAS ALSO ENTERED INTO A TIE UP WITH TATA MOTORS LTD. FOR FINANCING OF COMMERCIAL VEHICLE MANUFACTURED BY THEM.
- THE BANK HAS RATIONALIZED RATE OF INTEREST ON MICRO,SMALL AND MEDIUM(MSME) ENTERPRISES WITH ADDITIONAL CONCESSIONS W.E.F. 1.04.2014 TO BOOST CREDIT TO SUCH ENTERPRISES.
- THE BANK LAUNCHED FOLLOWING CAMPAIGNS DURING THE QUARTER ENDED 30.06.2014 TO GIVE BOOST TO PRIORITY SECTOR LENDING:
I.FOR BOOSTING DISBURSEMENT TO MSME SECTOR(17TH TO 31ST MAY 2014)
II.FINANCING OF AGRICULTURE INPUT SUPPLIERS( 16TH TO 31ST MAY 2014)
III. ALL INDIA MEGA CREDIT CAMPAIGN TO BOOST PS LENDING (2ND TO 30TH
JUNE 2014)
- THE BANK IS IMPLEMENTING THE RAJIV RINN YOJANA(RRY), AN INTEREST SUBSIDY SCHEME OF MINISTRY FOR HOUSING &URBAN POVERTY ALLEVIATION(MH&UPA), GOI FOR ADDRESSING THE HOUSING NEEDS OF EWS/LIG SEGMENTS IN URBAN AREAS , CAPITAL SUBSIDY SCHEME FOR INSTALLATION OF 68000 SOLAR PHOTOVOLTAIC LIGHTING SYSTEMS AND SMALL CAPACITY PV SYSTEMS UNDER JAWAHARLAL NEHRU NATIONAL SOLAR MISSION(JNNSM), REVISED GCC SCHEME TO ENSURE GREATER FLOW OF ENTREPRENEURIAL CREDIT TO INDIVIDUALS, PARTICULARLY TO BORROWERS OF SMALL MEANS & REVISED GUIDELINES UNDER CAPITAL INVESTMENT SUBSIDY SCHEME FOR COMMERCIAL PRODUCTION UNITS OF ORGANIC INPUT UNDER NATIONAL PROJECT ON ORGANIC FARMING
- NUMBER OF ATMS OF THE BANK,DURING THE QUARTER , HAVE INCREASED FROM 1008 TO 1131. . THE BANK ALSO OPENED 28 NEW BRANCHES DURING THE QUARTER TAKING THE TOTAL BRANCH TALLY OF THE BANK TO 1358.
- BANK HAS LAUNCHED , INTER-BANK FUND TRANSFER SERVICE USING IMPS (IMMEDIATE PAYMENT SERVICES) WITH 2 OPTIONS: P2P (MOBILE TO MOBILE) AND P2A (MOBILE TO ACCOUNT). THROUGH WHICH BANK’S CUSTOMERS CAN ACCESS THEIR BANK ACCOUNTS AND MAKE INTERBANK FUND TRANSFER ON 24*7 BASIS.
- THE MESSAGE FORMATS, SUGGESTED BY THE WORKING GROUP CONSTITUTED, BY RBI, FOR NG-RTGS & VALIDATED BY ISO STANDARDS CERTIFICATION AUTHORITY AS BEING COMPLIANT WITH ISO 20022 STANDARDS, HAVE BEEN ADOPTED BY THE BANK.
- BANK HAS INTRODUCED E-LOBBY FOR CUSTOMERS’ CONVENIENCE, WITH FACILITIES OF CASH DEPOSIT MACHINE, ATM, INTERNET BANKING TERMINAL & CHEQUE DEPOSIT MACHINE.
- . JATINDERBIR SINGH, CMD, OF THE BANK STATED WE MUST REACH THE VAST UNBANKED AREAS TO ENSURE THE ECONOMIC UPLIFTMENT OF THE WEAKER SECTIONS OF THE SOCIETY.THE BANK IS MAKING ALL OUT EFFORTS FOR DEEPENING & BROADENING THE FINANCIAL INCLUSION FOR OUR INCLUSIVE ECONOMY.
