Punjab & Sind Bank has successfully upgraded its CBS to the latest version of Finacle 10.2.25.
FinTech BizNews Service
Mumbai, November 4, 2023: Punjab & Sind Bank has reported a fall of 31.7% in its Q2'FY24 net profit.
KEY Highlights (Y-o-Y)
Parameter | Q2 FY 22-23 | Q2 FY 23-24 | Growth% |
Total Business (in Cr) | 178977 | 198387 | 10.85 |
Total Deposit (in Cr) | 105238 | 116481 | 10.68 |
Gross Advances (in Cr) | 73739 | 81906 | 11.08 |
CASA Deposit (in Cr) | 35102 | 36327 | 3.49 |
RAM% to Gross Advances (%) | 51.45 | 54.15 | 270 bps |
Core Retails Advances (in Cr) | 12619 | 14881 | 17.93 |
MSME Advances (in Cr) | 13788 | 14840 | 7.63 |
Gross NPA (%) | 9.67 | 6.23 | (344) bps |
Net NPA (%) | 2.24 | 1.88 | (36) bps |
PCR with TWO% | 89.16 | 88.54 | (62) bps |
Recovery/Upgradation | 505 | 594 | 17.62 |
Operating Profit (in Cr) | 318 | 260 | (18.24) |
Profit Before Tax (in Cr) | 192 | 295 | 53.65 |
Net Profit (in Cr) | 278 | 189 | (32.01) |
Non-Interest Income (in Cr) | 141 | 268 | 90.07 |
Credit Cost | 0.09 | (0.05) | (14) bps |
Core Fee Income (in Cr) | 102 | 131 | 28.43 |
Yield on Advances (YoA) (%) | 7.67 | 8.62 | 95 bps |
CET- 1 (%) | 12.65 | 14.53 | 188 bps |
CRAR (%) | 15.68 | 17.23 | 155 bps |
Bank has successfully upgraded its CBS to latest version of Finacle 10.2.25.
2. Net worth of Bank stood at 7231 Cr and registered Y-o-Y growth of 34.55%.
3. Bank’s Digital Transactions increased by 6.58% on Y-o-Y basis & stood at 86.55% of total transaction as on 30.09.2023.
4. Bank has sanctioned 71.40 Cr of loans under PM Svanidhi.
5. Bank has surpassed the targets in Priority Sector Advances & stood at 54.35% as on Sep’23 against the regulatory target of 40%.
6. Bank has sanctioned Rs. 780.47 Cr under Pradhan Mantri Mudra Yojna (PMMY) during FY 2023- 24 up to 30.09.2023. Out of which Rs. 143.31 Cr was sanctioned to Women Entrepreneurs.
7. Bank has sanctioned 3137 loans for Rs. 656.73 Cr under Stand up India. Out of which 2735 loans for Rs. 587.62 Cr were sanctioned to Women Entrepreneurs.
8. Bank is having 21.31 lakh PMJDY accounts with balance of Deposits of Rs 452 Cr as on Sep
Key Summary of Business Performance (as on 30th September 2023)
Q-o-Q Performance
Parameter | Q1 FY 23-24 | Q2 FY 23-24 | Growth% |
Total Business (in Cr) | 194525 | 198387 | 1.99 |
Total Deposit (in Cr) | 114211 | 116481 | 1.99 |
Gross Advances (in Cr) | 80314 | 81906 | 1.98 |
RAM% to Gross Advances (%) | 49.56 | 50.69 | 113 bps |
Core Retails Advances (in Cr) | 14227 | 14881 | 4.60 |
MSME Advances (in Cr) | 14381 | 14840 | 3.19 |
Gross NPA (%) | 6.80 | 6.23 | (57) bps |
Net NPA (%) | 1.95 | 1.88 | (7) bps |
PCR with TWO% | 88.58 | 88.54 | (4) bps |
Recovery/Upgradation | 345 | 594 | 72.17 |
Slippage Ratio | 0.60 | 0.45 | (15) bps |
Profit Before Tax (in Cr) | 234 | 295 | 26.07 |
Net Profit (in Cr) | 153 | 189 | 23.53 |
Non-Interest Income (in Cr) | 178 | 268 | 50.56 |
Credit Cost | 0.08 | (0.05) | (13) bps |
Core Fee Income (in Cr) | 107 | 131 | 22.43 |
Yield on Advances (YoA) (%) | 8.45 | 8.62 | 17 bps |
Return on Asset (%) | 0.43 | 0.52 | 9 bps |
Return on Equity (%) | 8.72 | 10.47 | 175 bps |
Net Interest Margin (%) | 2.63 | 2.32 | (31) bps |
