Punjab & Sind Bank to raise Rs 2,000 crore via QIP this quarter: MD & CEO Swarup Kumar Saha

State-owned Punjab and Sind Bank plans to rise Rs 2,000 crore done Qualified Institutional Placement (QIP) during the ongoing quarter, a apical authoritative of the slope said.

The slope has already appointed merchant bankers and ineligible advisers for the projected QIP, Punjab & Sind Bank managing manager and CEO Swarup Kumar Saha told PTI.

"With the QIP, the authorities holding successful the slope would travel down 3-4 per cent and superior adequacy ratio would emergence astatine the extremity of March 2025," helium said.

The authorities of India holds 98.25 per cent involvement successful Punjab & Sind Bank astatine the extremity of December 2024, helium said.

The authorities has extended the deadline for gathering minimum nationalist shareholding norms for cardinal nationalist assemblage enterprises and nationalist assemblage fiscal institutions till August 2026.

Out of 12 nationalist assemblage banks (PSBs), 5 are yet to comply with minimum nationalist shareholding (MPS) norms and the government's holding is beyond 75 per cent.

As per the Securities and Exchange Board of India (Sebi), each listed companies indispensable support an MPS of 25 per cent.

The bank's committee had already approved a superior mop up of Rs 10,000 crore, including Rs 5,000 crore arsenic infrastructure bonds, Rs 2,000 crore arsenic QIP and the remaining Rs 3,000 crore arsenic Tier-1 oregon Tier-2 bonds for the existent fiscal.

Last month, the slope raised Rs 3,000 crore from maiden infrastructure bonds aimed astatine expanding infra lending.

During the 3rd 4th ended December, 2024, Punjab & Sind Bank reported a much than two-fold leap successful its nett net to Rs 282 crore successful the December 2024 4th arsenic atrocious loans declined.

The slope had earned a nett net of Rs 114 crore successful the aforesaid 4th a twelvemonth ago.

The bank's full income accrued to Rs 3,269 crore during the 4th nether review, arsenic against Rs 2,853 crore successful the aforesaid play past year, Punjab & Sind Bank said successful a regulatory filing.

On the plus prime front, gross non-performing assets (NPAs) declined to 3.83 per cent of the gross loans by the extremity of December 2024, from 5.70 per cent a twelvemonth ago.

Similarly, nett NPAs oregon atrocious loans came down to 1.25 per cent from 1.80 per cent astatine the extremity of the 3rd 4th of the erstwhile fiscal.