PUNJAB & SIND BANK REGISTERS A GROWTH OF 38.72% (YOY) IN FIRST QUARTER FINANCIAL RESULTS

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.