Punjab & Sind Bank posts Rs 218cr profit in Jul-Sept

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November 01, 2021 5:13 PM

Net NPAs, however, came down to 3.81 per cent (Rs 2,287.77 crore) from 5.87 per cent (Rs 3,306.52 crore) even though it rose sequentially from 3.61 per cent (Rs 2,206.70 crore) by end of June this year.

P&SB shares closed at Rs 18.20 apiece on BSE, up 2.25 per cent from the previous close.

Public sector Punjab & Sind Bank (P&SB) on Monday reported a net profit of Rs 218.28 crore in the quarter ended in September 2021.

The bank had reported a net loss of Rs 401.27 crore in the year-ago period but had a net profit of Rs 173.85 crore in the April-June 2021 quarter.

Total income of the bank during the July-September quarter of FY22 was down at Rs 1,945.12 crore against Rs 1,974.78 crore in the corresponding period of FY21, P&SB said in a regulatory filing.

The bank’s gross non-performing assets rose further to 14.54 per cent of the gross advances at the end of September 2021 from 14.06 per cent at September-end 2020, and from 13.33 per cent by the end of June 2021.

In value terms, the gross NPAs (bad loans) of the Delhi-headquartered bank stood at Rs 9,822.80 crore by end of Q2FY22, as against Rs 8,673.16 crore by end of Q2FY21.

Net NPAs, however, came down to 3.81 per cent (Rs 2,287.77 crore) from 5.87 per cent (Rs 3,306.52 crore) even though it rose sequentially from 3.61 per cent (Rs 2,206.70 crore) by end of June this year.

P&SB shares closed at Rs 18.20 apiece on BSE, up 2.25 per cent from the previous close.

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