Punjab & Sind Bank, which celebrated its 115th foundation day on June 24, 2022, reported a net profit of Rs 1,039 crore for FY 22. Swarup Kumar Saha, MD & CEO, said apart from other IT-related initiatives, the bank has launched a special PSB Grih Lakshmi fixed deposit scheme, Nanhe Chaman Term Deposit Scheme, PSB GST ease loan and pre-approved personal loans for salary accountholders, pensioners and housing loan borrowers as well as other deposit schemes.
The bank was established in 1908 in Amritsar, and has played a significant role in shaping the banking landscape of pre- and post-independent India. Saha said the bank has to now show consistency in performance to become a midsized lender by growing qualitatively for all sections of the society. Saha said the bank is poised to move towards a digital transformation through up-gradation of its mobile app, PSB UNiC.
At present, the bank is offering low interest rates on housing, auto and gold loan products. The bank is focusing on its core strength for augmenting retail, agriculture and MSME (RAM) segment credit. Saha said each PSBian is fully committed and dedicated to serve with renewed zeal and zest. Even during the testing times of Covid-19, the bank extended the best of its