Punjab & Sind Bank

2022-06-03T14:22:47Z

2409:4050:2D04:1615:0:0:5E0B:F90E:

{{Short description|Indian public sector bank}}
{{Use dmy dates|date=October 2015}}
{{Use Indian English|date=June 2016}}
{{Infobox company
| name = Punjab & Sind Bank
| logo = PSB logo 23 Nov.svg
| logo_size = 250px
| logo_alt = Where service is a way of life
| logo_caption =
| type = [[Government of India|Nationalised Bank]]
| traded_as = {{BSE|533295}}<br />{{NSE|PSB}}
| foundation = {{start date and age|df=y|1908|6|24}}
| location = Rajendra Place [[New Delhi]], [[India]]
| key_people = Shri Swarup Kumar Saha <br> {{small|(MD & CEO<ref name="auto">{{Cite web|url=https://www.psbindia.com/content/mgmt|title=PSB Management | Board of Directors | Board Committee | Punjab & Sind Bank|website=www.psbindia.com}}</ref>)}}{{!}} Shri Kollegal V Raghavendra, Dr. Ramjass Yadav <br> {{small|(Executive Directors<ref name="auto"/>)}}<nowiki>}}</nowiki>
| industry = [[Banking]]<br />[[Financial services]]
| products = [[Retail banking|Consumer banking]], [[Commercial bank|corporate banking]], [[Financial services|finance and insurance]], [[investment banking]], [[mortgage loan]]s, [[wealth management]]
| revenue = {{decrease}} {{INRConvert|8826.92|c}}(2020)<ref name="Annual Report 2019-20">{{Cite web|url=https://www.bseindia.com/bseplus/AnnualReport/533295/5332950320.pdf|title=Annual Report of Punjab & Sind Bank}}</ref>
| operating_income = {{decrease}} {{INRConvert|1096.91|c}} (2020)<ref name="Annual Report 2019-20" />
| net_income = {{decrease}} {{INRConvert|-990.80|c}} (2020)<ref name="Annual Report 2019-20" />
| assets = {{Increase}}{{INRConvert|110481|c}} (2021) <ref>{{Cite web|url=https://www.moneycontrol.com/financials/punjabsindbank/balance-sheetVI/PSB|title=Punjab & Sind Bank Balance Sheet, Punjab & Sind Bank Financial Statement & Accounts|website=[[Moneycontrol]]}}</ref>
| equity = {{Increase}}{{INRConvert|701.05|c}} (2020) <ref name="Annual Report 2019-20" />
| owner = [[Government of India]] (97.07%) <ref name="Annual Report 2019-20" />
| parent = [[Ministry of Finance]] , [[Government of India]]
| num_employees = 8862 (2020)<ref name="Annual Report 2019-20" />
| ratio = 12.76% (2020)
| homepage = {{URL|punjabandsindbank.co.in}}
}}

'''Punjab & Sind Bank''' is an Indian [[Government of India|nationalised bank]]. It is under the [[ownership]] of [[Ministry of Finance (India)|Ministry of Finance]], [[Government of India]]<ref>{{Cite web|url=https://www.bseindia.com/corporates/shpPromoterNGroup.aspx?scripcd=533295&qtrid=107.00&QtrName=September%202020|title=Shareholding Pattern|website=www.bseindia.com|access-date=2020-01-04}}</ref> with its head office located in [[New Delhi]]. As of 31 March 2020, the bank has 1526 branches which are widely spread across India out of which 635 branches are in the state of [[Punjab, India|Punjab]], and 25 zonal offices located all over India.<ref>{{Cite web|url=https://www.psbindia.com/content/zonal-offices|title=Zonal Offices|website=psbindia.com}}</ref>

==History==
The bank was established in [[Amritsar]] on 24 June 1908 by [[Vir Singh (writer)|Bhai Vir Singh]], Sir Sunder Singh Majitha, and Sardar Tarlochan Singh to serve the then [[Sind Division|Sind]] and [[Punjab Province (British India)|Punjab]] areas of [[British Raj|colonial India]].<ref>[https://punjabandsindbank.co.in/content/history1 History]. ''punjabandsindbank.co.in''.</ref>

On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalised in the second wave of nationalisation. (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, the bank has shown growth of over 40% year on year, and its IPO was oversubscribed by more than 50 times.

On 16 July 2019, Punjab & Sind Bank disclosed that it detected a fraud, worth {{INRConvert|238|c|0}} by the [[Bhushan Power & Steel]] Limited.<ref>{{cite news |title=Punjab & Sind Bank flags fraud in Bhushan Power account |url=https://www.livemint.com/companies/news/punjab-sind-bank-flags-fraud-in-bhushan-power-account-1563371557452.html |publisher=[[Livemint]] |date=17 July 2019}}</ref>

== Products==
{{div col|colwidth=250px}}
* [[Aadhaar]] Pay
* [[Automated teller machine|ATM]]
* [[BharatQR]]
* [[BHIM]]
* [[Debit card]]
* [[Internet Banking]]
* [[Mobile Banking]]
* [[Point-of-sale terminal|POS Machine]]
* [[SMS Banking]]
* [[UPI]]
{{div col end}}

==Financial performance==
{| class="wikitable"
|-
! #!!Particulars!!FY 2016-17
!FY 2017-18
!FY 2018-19
!FY 2019-20
|'''FY 2020-21'''
|-
| A||[[Deposit account|Deposits]] (' INR crores)|| style="text-align:right;" | 85,540.16 || style="text-align:right;" |1,01,726.17 || style="text-align:right;" |98,557.60 || style="text-align:right;" |89,667.55
|96,108.18
|-
| B||Advances (' INR crores)|| style="text-align:right;" | 60,263.09 || style="text-align:right;" |69,738.78 || style="text-align:right;" |72,747.47 || style="text-align:right;" |62,564.20
|67,811.00
|-
| C||Total Business (A+B) (' INR crores)|| style="text-align:right;" | 1,45,803.25
|1,71,464.95
|1,71,305.07
|1,52,231.75
|1,63,919.18
|-
| D||Total Assets (' INR crores)|| style="text-align:right;" | 97,753.40
|1,11,591.84
|1,06,973.01
|
|1,10,481.89
|-
| E||[[Earnings before interest and taxes|Operating Profit]] (' INR crores)|| style="text-align:right;" | 1241.88 || style="text-align:right;" |1144.71 || style="text-align:right;" |1396.86 || style="text-align:right;" |1096.91
|771.22
|-
| F||[[Net Profit]](' INR crores)|| style="text-align:right;" | 201.08 || style="text-align:right;" |(-743.80) || style="text-align:right;" |(-543.48) || style="text-align:right;" |(-990.80)
|(-2732.90)
|-
| G||Net Interest Margin (NIM) (%)|| style="text-align:right;" | 2.16 || style="text-align:right;" | || style="text-align:right;" |1.98 || style="text-align:right;" |1.88
|2.11
|-
| H||[[Return on assets]] (%)|| style="text-align:right;" | 0.20 || style="text-align:right;" |(-0.69) || style="text-align:right;" |(-0.47) || style="text-align:right;" |(-0.91)
|(-2.55)
|-
| I||Gross [[Non-performing asset|NPA]]s (%)|| style="text-align:right;" | 10.45 || style="text-align:right;" |11.19 || style="text-align:right;" |11.83 || style="text-align:right;" |14.18
|13.76
|-
| J||Net NPAs (%)|| style="text-align:right;" | 7.51 || style="text-align:right;" |6.93 || style="text-align:right;" |7.22 || style="text-align:right;" |8.03
|4.04
|-
| K||Total Branches|| style="text-align:right;" | 1500 || style="text-align:right;" |1514 || style="text-align:right;" |1518 || style="text-align:right;" |1526
|1531
|-
| L||Total ATM's|| style="text-align:right;" | 1400 || style="text-align:right;" |1400+ || style="text-align:right;" |1500+ || style="text-align:right;" |1500+
|1450+
|}

In FY 2019-20 Punjab & Sind Bank recorded a Net Loss of Rs.990.80 crore.<ref>[https://www.bseindia.com/bseplus/AnnualReport/533295/5332950320.pdf Annual Report]. ''[[Bombay Stock Exchange|BSE India]]''.</ref>

* Total business of the bank stood at Rs. 1,52,231.75 crore.
* The operating profit for the year ending 2019-20 is Rs. 1097 crores.
* Gross NPA is 14.18% for the year ending 2019-20 amounting to Rs 8875 crores.
* Net NPA is 8.03% for the year ending 2019-20 amounting to Rs 4684 crores.
* Provision Coverage Ratio as on 31 March 2020 stood at 66.74%.
* The Net Worth of the bank stood at Rs. 2917 crore as on 31.03.2020.
* Total Income of the bank during the year stood at Rs 8827 crore.

The Capital Adequacy Ratio (Basel III) of the Bank is 12.76% as on 31.03.2020.

==See also==
{{Portal|Banks}}
* [[Banking in India]]
* [[List of banks in India]]
* [[List of companies of India]]
* [[Punjab National Bank]]
* [[Reserve Bank of India]]
* [[Indian Financial System Code]]
* [[List of largest banks]]

==References==
{{Reflist}}

==External links==
* {{Official}}

{{Banking in India}}
{{Authority control}}

{{DEFAULTSORT:Punjab and Sind Bank}}
[[Category:Public Sector Banks in India]]
[[Category:Banks established in 1908]]
[[Category:Companies based in New Delhi]]
[[Category:Indian companies established in 1908]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

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Punjab & Sind Bank