01-04-2023 12:36 PM | Source: Accord Fintech
Punjab & Sind Bank shines on recording 17% growth in gross advances during Q3FY23
News By Tags | #413 #1232 #1302 #572

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the Channel

Punjab & Sind Bank is currently trading at Rs. 33.00, up by 0.65 points or 2.01% from its previous closing of Rs. 32.35 on the BSE.

The scrip opened at Rs. 33.35 and has touched a high and low of Rs. 33.75 and Rs. 32.35 respectively. So far 344575 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.65 on 15-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. 34.30 and Rs. 31.85 respectively. The current market cap of the company is Rs. 22298.92 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’s gross advances stood at Rs 78049 crore (provisional)  as of December 31, 2022 (Q3FY23), posting a 17% rise in year-on-year (YoY) terms as against Rs 66710 crore as of December 31, 2021 and on quarter-on-quarter (QoQ) basis, gross advances stood at Rs 73739 crore as of September 2022.

The bank’s total deposits grew 9.11% to Rs 109497 crore (provisional) as of December 31, 2022, as compared to Rs 100351 crore as of December 31, 2021 (on a yearly basis). On a quarterly basis, the deposits stood at Rs 105238 crore as of September 2022.

CASA deposits stood at Rs 36460 crore (Provisional) as of December 31, 2022, posting a 11.33% rise in year-on-year (YoY) terms as against Rs 32749 crore as of December 31, 2021. Its total business stood at Rs 187546 crore (Provisional) as of December 31, 2022, a growth of 12.26% over Rs 167061 crore as of December 31, 2021.

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