Punjab and Sind Bank records highest ever Net Profit of Rs.1313 Cr (FY).
Key Summary of Business Performance (as on 31st March 2023)
Priority Sector Advance and Financial Inclusion:
- Bank surpasses the targets in Priority Sector Advance which stands at 54.99% and Agriculture Advance at 20.67% of ANBC, as on March 2023, against the regulatory target of 40% and 18% respectively.
- Credit to Small and Marginal farmers stands at 11.06% of ANBC, against the regulatory target of 9.50%.
- Credit to Weaker Sections stands at 12.68% of ANBC, against the regulatory target of 11.50%.
- Credit to Micro Enterprises stands at 14.31% of ANBC, against the regulatory target of 7.50%.
- Bank is having 19.30 lakh PMJDY accounts with balance of deposits of Rs.558 Cr as at March 2023.
- Capital Adequacy ratio (CRAR) at 17.10% with Common Equity Tier 1 (CET-1) ratio of 14.32% at the end of March 2023.
- As on 31st March 2023, Bank has 1537 number of branches, out of which 572 are Rural, 281 Semi-Urban, 362 Urban and 322 Metro along with 835 number of ATMs, 357 Business Correspondents.
- Bank has recently opened 25 new branches in PAN India, total number of branches stands at 1553 as on date.
Awards & Accolades:
- Best Emerging Bank at MSME Banking Excellence Award.
- 1st Position under “Exemplary Gold Award” in Leadership Capital 4.0 by PFRDA.
- Runner-up in “Best Digital Financial Inclusion” declared by IBA.
- 3rd Position in “Door-step Banking Udaan Campaign” by PSB Alliance Private Limited.