PUNJAB & SIND BANK EARNS A NET PROFIT OF RS.300.63 CRORE FOR FY 2013-14
PSU

PUNJAB & SIND BANK EARNS A NET PROFIT OF RS.300.63 CRORE FOR FY 2013-14

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Punjab & Sind Bank Declares Financial Results  For The Quarter/ Year  Ended 31.3.2014

 

 PUNJAB  AND  SIND  BANK  DECLARED  ITS  FINANCIAL RESULTS FOR THE QUARTER/ YEAR ENDED  31.3.2014 TODAY.ANNOUNCING THE RESULTS SH.JATINDERBIR SINGH, CMD, OF BANK SAID THAT THE BUSINESS GROWTH OF THE BANK WAS SATISFACTORY AND HAS  EARNED A NET PROFIT OF Rs.300.63 CRORE FOR THE FY 2013-14.

 

OTHER HIGHLIGHTS OF BANK’S PERFORMANCE ARE AS UNDER :

 

BUSINESS

 

TOTAL BUSINESS OF THE BANK STOOD AT RS.  142588  CRORE AS ON 31.03.2014 AGAINST 122485   CRORE AS ON 31.03.2013 THEREBY REGISTERING A  GROWTH OF 16.41 % YEAR ON YEAR BASIS.

 

BUSINESS PER EMPLOYEE INCREASED FROM Rs. 13.70 CRORE AS ON 31.3.2013 TO RS.15.31 CRORE AS ON 31.03.2014  THEREY POSTING A GROWTH OF 11.75% ON YOY BASIS.

 

GROSS DEPOSITS OF THE BANK INCREASED TO RS.84730 CRORE AS ON 31.03.2014 FROM RS.70642    CRORE AS ON 31.03.2013 REGISTERING A GROWTH OF 19.94% YEAR ON YEAR BASIS

 

GROSS ADVANCES OF THE BANK ROSE TO RS. 57858 CRORE AS ON 31.03.2014  FROM RS.51843   CRORE AS ON  31.03.2013 THUS REGISTERING A GROWTH OF 11.60 % YEAR ON YEAR BASIS.

 

 

 

 

LENDING UNDER PRIORITY SECTOR

 

PRIORITY SECTOR ADVANCES REGISTERED A GROWTH OF RS. 2260 CRORE (16.6%) IN THE YEAR 2013-14 FROM RS.13605 CRORE (31.3.2013) TO RS 15865 CRORE (31.3.2014).

 

AGRICULTURE ADVANCES INCREASED TO RS.6084 CRORE AS ON 31.3.2014 FROM RS.4913 CRORE AS ON 31.3.2013REGISTERING A GROWTH OF RS.1171 CRORE (23.8%).

 

CRAR

 

CAPITAL TO RISK WEIGHTED ASSETS RATIO (CRAR) AS PER BASEL-II NORMS STOOD AT 12.10% AS ON 31.03.2014 .

 

 

ASSET QUALITY

 

GROSS NPAs OF THE BANK STOOD AT RS. 2553.52 CRORE AS ON 31.03.2014 AND THE GROSS NPA RATIO IS 4.41 % AS ON 31.03.2014.

 

NET NPA STOOD AT RS.1918.60 CRORE AS ON 31.03.2014 AND THE NET NPA RATIO IS 3.35 % AS ON 31.03.2014.

 

 

 

 

NEW INITIATIVES:

  • DURING THE YEAR 2013-14, THE BANK HAS INSTALLED 829 ATMS TAKING THE ATM TALLY OF THE BANK TO 1008 AS ON 31.03.2014.

 

  • THE BANK HAS LAUNCHED INTERNATIONAL ATM CUM DEBIT CARD IN ASSOCIATION WITH MASTERCARD ORGANISATION.

 

  • 202 NEW BRANCHES OPENED DURING THE YEAR 2013-14 TAKING THE TOTAL BRANCH TALLY OF THE BANK TO 1330 AS ON 31.03.2014. OUT OF THESE 73 BRANCHES HAVE BEEN  OPENED IN UNBANKED    AREAS AND USBS (ULTRA SMALL BRANCHES)

 

  • THE BANK LAUNCHED FESTIVAL BONANZA SCHEME FOR HOUSING LOAN,AUTO LOAN AND CONSUMER LOAN FROM. 05.10.2013  OFFERING COMPETITIVE RATE OF INTEREST AND CONCESSION IN PROCESSING FEE, MARGIN ETC.
  • Rs.1393 CRORE DISBURSED UNDER RETAIL  LENDING SCHEMES DURING  THE YEAR  REGISTERING AN INCREASE OF 6% ON YOY BASIS

 

 

  • IN COMMITMENT TOWARDS FINANCIAL INCLUSION INITIATIVE, BANK HAS IMPLEMENTED FINANCIAL INCLUSION GATEWAY & HAS INTRODUCED KIOSK BANKING.

 

  • ANTI MONEY LAUNDERING SOLUTION HAS BEEN IMPLEMENTED IN THE BANK.

 

  • TO FACILITATE CUSTOMERS, BANK HAS INTRODUCED 24*7 CALL CENTER FACILITY.

 

  • ONE TIME PASSWORD (OTP) FOR CUSTOMERS TRANSACTIONS THROUGH INTERNET BANKING

 

  • THE BANK HAS PLANNED TO OPEN 155 NEW BRANCHES DURING THE CURRENT FISCAL.

 

  • NUMBER OF KISAN CREDIT CARDS (KCCS) INCREASED BY 19125 (14%) FROM 135445 AS ON 31.3.2013 TO 154570 AS ON 31.3.2014.

 

  • INTRODUCED NEW SCHEME FOR FINANCING SEED PRODUCTION AND PROCESSING UNITS AND SCHEME FOR FINANCING OF AGRICULTURE INPUT DEALERS (SEEDS, FERTILIZERS, PESTICIDES ETC.).

 

  • IN ADDITION TO EXISTING 11 SPECIALIZED MSME BRANCHES, 18 MORE GENERAL BRANCHES HAVE BEEN CATEGORIZED AS SPECIALIZED MSME BRANCH TAKING THE TOTAL TO 29.

 

  • TO GIVE BOOST TO MSE CREDIT, BANK SIGNED MOU WITH CRISIL FOR CREDIT RATING MSE UNITS AT CONCESSIONAL RATE RATIONALIZED AND RATIONALIZED RATE OF INTEREST ON MSME ADVANCES

 

SH. JATINDERBIR SINGH, CMD, OF THE BANK ATTRIBUTED THE NOTEWORTHY PERFORMANCE OF THE BANK EVEN IN THE PRESENT DAY CHALLENGING ECONOMIC SCENARIO, TO THE SINCERITY, DEDICATION AND HARDWORK  OF THE BANK STAFF AT ALL LEVELS BESIDES  LOYALITY OF THE CLIENTELE. GIVEN THIS SH.SINGH  FELT   CONFIDENT  TO ACHIEVE SUBSTANTIAL BUSINESS GROWTH AND PROFITS WITH SPECIAL FOCUS ON RETAIL BUSINESS IN THE CURRENT FISCA