Press "Enter" to skip to content

Punjab & Sind Financial institution Internet Revenue Rises 27% to Rs 278 Crore in July-September


Final Up to date: November 05, 2022, 16:20 IST

Punjab & Sind Bank's total income during the July-September quarter of FY23 rose to Rs 2,120.17 crore against Rs 1,974.78 crore in the corresponding period of FY22.

Punjab & Sind Financial institution’s complete revenue in the course of the July-September quarter of FY23 rose to Rs 2,120.17 crore in opposition to Rs 1,974.78 crore within the corresponding interval of FY22.

Public sector lender Punjab & Sind Financial institution on Saturday stated its internet revenue rose 27 per cent to Rs 278 crore within the second quarter of FY23 on the again of discount in unhealthy loans.

Public sector lender Punjab & Sind Financial institution on Saturday stated its internet revenue rose 27 per cent to Rs 278 crore within the second quarter of FY23 on the again of discount in unhealthy loans. The financial institution had reported a revenue of Rs 218 crore within the year-ago interval.

Whole revenue of the financial institution in the course of the July-September quarter of FY23 rose to Rs 2,120.17 crore in opposition to Rs 1,974.78 crore within the corresponding interval of FY22, Punjab & Sind Financial institution stated in a regulatory submitting. The financial institution’s gross non-performing property (NPAs) declined to 9.67 per cent of the gross advances on the finish of September 2022 from 14.54 per cent throughout the identical interval a 12 months in the past.

In worth phrases, the gross NPAs (unhealthy loans) of the Delhi-headquartered financial institution stood at Rs 7,128.45 crore by the top of Q2FY23, as in opposition to Rs 9,822.80 crore in Q2FY22.

Internet NPAs additionally got here right down to 2.24 per cent from 3.81 per cent within the second quarter of earlier 12 months.

Consequently, the financial institution’s provisions for unhealthy loans and contingencies declined to Rs 125 crore for the quarter, from Rs 203 crore a 12 months in the past.

Of this, provisions for unhealthy loans eased considerably to Rs 63 crore as in opposition to Rs 678 crore in the identical quarter a 12 months in the past.

Through the quarter, the Provision Protection Ratio (PCR) improved additional to 89.16 per cent as in opposition to 84.44 per cent in September 2021.

Learn all of the Newest Enterprise Information right here



Supply hyperlink

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: