Punjab & Sind Bank shines on aiming CASA ratio of 35% by end of ongoing fiscal
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Punjab & Sind Bank is currently trading at Rs. 27.15, up by 2.10 points or 8.38% from its previous closing of Rs. 25.05 on the BSE.
The scrip opened at Rs. 25.60 and has touched a high and low of Rs. 27.95 and Rs. 25.00 respectively. So far 1518505 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs 27.95 on 06-Dec-2022 and a 52 week low of Rs. 12.50 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 27.95 and Rs. 20.15 respectively. The current market cap of the company is Rs. 18537.25 crore.
The promoters holding in the company stood at 98.25%, while Institutions and Non-Institutions held 0.67% and 1.08% respectively.
Punjab & Sind Bank is aiming a Current Account Savings Account (CASA) ratio of 35% by the end of the ongoing fiscal and the bank has undertaken various efforts to achieve the goal.
CASA ratio, the low cost deposit base, of the state-owned bank stood at 33.36% (Rs 35,102 crore) at the end of September, 2022. Higher CASA ratio pushes profitability of banks as banks can earn higher spreads.
Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.
