Punjab & Sind Bank
 | |
| Public | |
| Industry |
Banking Financial services |
| Founded | 24 June 1908 |
| Headquarters | Rajendra Place New Delhi, India |
Key people | S.Jatinder Bir Singh, I.A.S (C.M.D.), M.K.Jain (E.D.) , A.K. Jain (E.D.) |
| Products | Finance, FOREX, Retail Banking |
| Total assets |
|
| Owner | Government of India |
Number of employees | 10,245 (March 2015) |
| Website | |
Punjab & Sind Bank (Hindi पंजाब एण्ड सिंध बैंक) is a government-owned bank (79.62%), with headquarters in New Delhi. Of its 1466 branches spread throughout India, 623 branches are in Punjab state. Its net profit is Rs. 121.35 crores and net NPA is 3.55% for the year ending 2014-15. The bank's operating profit for the year ending 2014-15 is Rs. 775.45 crores. Total business of the bank was Rs. 1,51,511 crores for the year ending 2014-15 and Business per employee is Rs. 15.95 crore. The net worth of the bank as on 31.03.15 is Rs. 4812 crore.[1]
History
On 24 June 1908 Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singhwhen established Punjab & Sind Bank.[2]
The bank was founded on the principle of social commitment to help the weaker section of the society in their economic endeavours to raise their standard of life. Decades have gone by, even today Punjab & Sind Bank stands committed to honor the social commitments of the founding fathers.
On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalized in the second wave of nationalizations. (The first wave had been in 1969 when the government nationalized the top 14 banks.)
In the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987.
Since 2004 Punjab & Sind has shown growth of over 40% year on year, and its recent IPO was oversubscribed by more than 50 times. Recently the bank crossed a mark of Rs 1 lac crore in business.
Setluj Gramin Bank is a Regional Rural Bank sponsored by Punjab & Sind Bank.
Delivery Channel Based Products of Bank
Financial performance
| # | Particulars | FY 2014-15 | FY 2013-14 |
|---|---|---|---|
| A | Deposits (' INR crores) | 86,714.71 | 84,730.16 |
| B | Advances (' INR crores) | 64,796.42 | 57,857.74 |
| C | Total Business (A+B) (' INR crores) | 1,51,511 | 1,42,588 |
| D | Total Assets (' INR crores) | 97,753.40 | 94,509.15 |
| E | Operating Profit (' INR crores) | 775.45 | 800.54 |
| F | Net Profit(' INR crores) | 121.35 | 300.63 |
| G | Business/Employee (' INR crores) | 15.95 | 15.31 |
| H | Net Interest Margin (NIM) (%) | 1.80 | 1.88 |
| I | Return on assets (%) | 0.13 | 0.35 |
| J | Gross NPAs (%) | 4.76 | 4.41 |
| K | Net NPAs (%) | 3.55 | 3.35 |
| L | Total Branches | 1456 | 1330 |
| M | Total ATM's | 1268 | 1008 |