by Suman Gupta
Financial Results for the Quarter and Year ended 31st March 2023
Punjab and Sind Bank records highest ever Net Profit of Rs.1313 Cr (FY) against a Net Profit of Rs.1039 Cr (Y-o-Y), registering a growth of 26.37%.
Bank’s Operating Profit zooms to Rs.536 Cr during Q4 FY 2023, with Y-o-Y growth of 69.09% and Q-o-Q growth of 55.81%.
Key Summary of Business Performance (as on 31st March 2023)
Q-o-Q Performance (Sequential):
| Parameter | Q3 FY 2023 | Q4 FY 2023 | Growth % |
| Operating Profit (in Cr) | 344 | 536 | 55.81 |
| Net Profit (in Cr) | 373 | 457 | 22.52 |
| Credit-Deposit Ratio | 71.00 | 73.84 | 284 bps |
| Cost-to-Income Ratio | 63.47 | 56.45 | (702) bps |
| Non-Interest Income (in Cr) | 138 | 547 | 296.38 |
| Return on Assets (RoA) | 1.11 | 1.33 | 22 bps |
| Return on Equity (RoE) | 26.09 | 28.43 | 234 bps |
| Gross NPA (%) | 8.36 | 6.97 | (139) bps |
| Net NPA (%) | 2.02 | 1.84 | (18) bps |
| Recovery and Up-gradation
(in Cr) |
596 | 1153 | 93.46 |
| Total Business (in Cr) | 187242 | 190647 | 1.82 |
Key Summary of Business Performance (as on 31st March 2023)
Y-o-Y Performance (Financial Year):
| Parameter | FY 2022 | FY 2023 | Growth % |
| Operating Profit (in Cr) | 1330 | 1450 | 9.02 |
| Net Profit (in Cr) | 1039 | 1313 | 26.37 |
| Net Interest Income (in Cr) | 2652 | 2973 | 12.10 |
| Return on Assets (RoA) | 0.85 | 0.98 | 13 bps |
| Return on Equity (RoE) | 20.42 | 22.18 | 176 bps |
| Yield on Advances (YoA) | 7.20 | 7.67 | 47 bps |
| Net Interest Margin (NIM) | 2.80 | 2.91 | 11 bps |
| Cost-to-Income Ratio | 63.16 | 62.95 | (21) bps |
| Credit-Deposit Ratio | 68.91 | 73.84 | 493 bps |
| Gross NPA (%) | 12.17 | 6.97 | (520) bps |
| Net NPA (%) | 2.74 | 1.84 | (90) bps |
| Provision Coverage Ratio (PCR) | 87.89 | 89.06 | 117 bps |
| Total Deposit (in Cr) | 102137 | 109665 | 7.37 |
| Gross Advances (in Cr) | 70387 | 80982 | 15.05 |
| RAM Advances (in Cr) | 35692 | 43082 | 20.70 |
Q-o-Q Performance (Sequential):
| Parameter | Q3 FY 2023 | Q4 FY 2023 | Growth % |
| Operating Profit (in Cr) | 344 | 536 | 55.81 |
| Net Profit (in Cr) | 373 | 457 | 22.52 |
| Credit-Deposit Ratio | 71.00 | 73.84 | 284 bps |
| Cost-to-Income Ratio | 63.47 | 56.45 | (702) bps |
| Non-Interest Income (in Cr) | 138 | 547 | 296.38 |
| Return on Assets (RoA) | 1.11 | 1.33 | 22 bps |
| Return on Equity (RoE) | 26.09 | 28.43 | 234 bps |
| Gross NPA (%) | 8.36 | 6.97 | (139) bps |
| Net NPA (%) | 2.02 | 1.84 | (18) bps |
Priority Sector Advance and Financial Inclusion:
Bank surpasses the targets in Priority Sector Advance which stands at 54.99% and Agriculture Advance at 20.67% of ANBC, as on March 2023, against the regulatory target of 40% and 18% respectively.
Credit to Small and Marginal farmers stands at 11.06% of ANBC, against the regulatory target of 9.50%.
Credit to Weaker Sections stands at 12.68% of ANBC, against the regulatory target of 11.50%.
Credit to Micro Enterprises stands at 14.31% of ANBC, against the regulatory target of 7.50%.
Bank is having 19.30 lakh PMJDY accounts with balance of deposits of Rs.558 Cr as at March 2023.
Capital Position:
Capital Adequacy ratio (CRAR) at 17.10% with Common Equity Tier 1 (CET-1) ratio of 14.32% at the end of March 2023.
Distribution Network:
As on 31st March 2023, Bank has 1537 number of branches, out of which 572 are Rural, 281 Semi-Urban, 362 Urban and 322 Metro along with 835 number of ATMs, 357 Business Correspondents.
Bank has recently opened 25 new branches in PAN India, total number of branches stands at 1553 as on date.
Awards & Accolades:
Best Emerging Bank at MSME Banking Excellence Award.
1st Position under “Exemplary Gold Award” in Leadership Capital 4.0 by PFRDA.
Runner-up in “Best Digital Financial Inclusion” declared by IBA.
3rd Position in “Door-step Banking Udaan Campaign” by PSB Alliance Private Limited.
