PUNJAB & SIND BANK (PSB)
Active threads
Punjab & Sind Bank Q2 net profit rises 40% to ₹412 crore
With improvement in interest earning, Punjab & Sind Bank on Saturday reported a net profit of ₹412 crore during July-September quarter of FY 27. This is 40 per cent higher than ₹295 crore achieved during corresponding period of last fiscal. The bank’s net interest income stood at ₹1,162 crore for the quarter, showing a growth of over 22 per cent.
PSBs borrow 29% more as credit demand outpaces deposits
Borrowings by public-sector banks surged nearly 29% year-on-year in the June quarter, compared with growth of about 3% at private banks. The divergence coincided with private banks widening their deposit-growth advantage over state-owned lenders to nearly four percentage points. Private banks grew deposits 14.3% year-on-year in the quarter, ahead of the 10.7% expansion recorded by PSU banks, helping them gain deposit market share.
Intelligence feed
No articles in the last 24 hours.