Key Highlights of Reviewed Financial Results for the Q1 FY 2022-23 Punjab & Sind Bank

New Delhi : Date: 01st Aug 2022

ü Net Profit grows by 17.82% on Y-o-Y basis from Rs.174 Cr for Q1 FY2022 to Rs.205 Cr for Q1 FY 2023.

ü Net Interest Income grows by 22.45% on Y-o-Y basis to Rs.709 Cr in Q1 FY2023.

ü Return on Assets (ROA) improves to 0.64%, improvement of 5 bps (Y-o-Y).

ü Net Interest Margin (NIM) improves to 2.92% in Q1 FY2023 from 2.50% in Q1 FY2022.

ü CASA Deposit share improves by 269 bps and stands at a level of 34.00% with a growth of 11.97% on Y-o-Y basis.

ü RAM (Retail, Agriculture & MSME) Advances grow by 15.88% on Y-o-Y basis.

ü Retail advances up by 17.99% to Rs.12040 Cr (Y-o-Y).

ü MSME advances up by 17.09% to Rs.13038 Cr (Y-o-Y).

ü Agriculture advances up by 12.29% to Rs.10903 Cr (Y-o-Y).

ü Gross Non-Performing Assets (GNPA) ratio declines to 11.34% as on 30.06.2022 against 13.33% as on 30.06.2021. The same was 12.17% as on 31.03.2022.

ü Net Non-Performing Assets (NNPA) ratio declines to 2.56% as on 30.06.2022 against 3.61% as on 30.06.2021. The same was 2.74% as on 31.03.2022.

ü Provision Coverage Ratio (PCR) including TWO stands at 88.10% in June’ 2022 against 84.22% in June’ 2021 and 87.89% in March’ 2022.

ü Cost of Deposit (COD) is at 4.16%, improves by 26 bps (Y-o-Y).

ü Capital Adequacy ratio (CRAR) at 16.79% with Common Equity Tier 1 (CET-1) ratio of 13.08% for Q1 FY2023.

ü Out of CRAR of 16.79%, Tier-I is 13.08% and Tier-II is 3.71% as at June’ 2022.

Other Highlights:

ü Total Business grows by 4.72% on Y-o-Y basis to Rs.174261 Cr as on June’ 2022.

ü Total Deposit up by 3.10% on Y-o-Y basis to Rs.101534 Cr as on Q1 FY2023.

ü Gross Advances grow by 7.06% on Y-o-Y basis to Rs.72727 Cr as on June’ 2022 against Rs.67933 Cr as on June’ 2021.

ü Operating Profit stands at Rs.252 Cr for Q1 FY2023.

ü Bank has achieved National Goals in Priority Sector Advance and Agriculture advance at 48.86% and 18.93% respectively, as against the target of 40% and 18% respectively of ANBC.

ü Credit to Small and Marginal farmers stands at Rs.6680 Cr in June’ 2022. National Goal achievement is 10.41% of ANBC, exceeding the target of 9.50%.

ü Credit to Weaker Sections stands at Rs.8085 Cr in June’ 2022. National Goal achievement is 12.60% of ANBC, exceeding the target of 11.50%.

Financial Inclusion:

ü Bank has opened 15.47 lakh accounts under PMJDY and mobilized CASA deposits of Rs.563 Cr as at June’ 2022.

Distribution Network:

ü As on 30th June’ 22, the Bank has 1526 number of branches, out of which 569 are Rural, 278 Semi-Urban, 357 Urban and 322 Metro along with 802 number of ATMs, 357 BCs.

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