Punjab & Sind Bank declares Financial Results of the Bank
for Quarter Ended 30.06.2015
Shri Jatinderbir Singh, IAS, CMD, Punjab & Sind Bank announced the financial results for the Quarter ended30.06.2015. The Bank has earned an Operating Profit of Rs.274.09 crore registering a growth of 38.72% (YoY). Net Profit of the Bank increased to Rs.43.16 crore registering a growth of 101.40% (YoY).
In comparison to corresponding period last fiscal, Total Business of the Bank increased to Rs.149401 crore, registering a growth of 8.30% (YoY), Deposits increased by 6.56% (YoY) to Rs.85602 crore and Gross Advances by 10.73% (YoY) to Rs.63799 crore. The CD ratio increased from 71.72% to 74.53% for the same period. NIM improved to 2.10% from 1.70% and Cost of Deposit reduced from 8.23% to 7.79% . Net Worth of the Bank improved to Rs.4854.74 crore from Rs 4201.84 crore during the same period. Business Per Employee has improved to Rs.15.86 crore from Rs. 14.27 crore (YoY).
Gross NPAs of the Bank stood at Rs.3300.17 crore & its percentage reduced from 5.22% to 5.17% on YOY basis and Net NPAs stood at Rs 2283.73 crore as on 30.06.2015. Its percentage reduced from 3.87% to 3.65%(YoY).
Sh. Jatinderbir Singh, CMD, of the Bank stated that the Bank is making all out efforts in the financial inclusion drive of GOI and to make PMJJBY, PMSBY and APY schemes a grand success.