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Punjab & Sind Bank declares Financial Results for Quarter and Half year ended 30.09.2019

Posted On: 2019-11-13 21:03:40

The Bank has declared Net Loss of Rs. 469 crore in Q2 ended on 30.09.2019 on account of higher provisioning. The loss of the Bank for the Q1 ended on 30.06.2019 was Rs. 30 crores. The Net Loss for the Half Year (HY) ended 30.09.2019 has reduced from Rs.507 crore to Rs.499 crore on YOY basis. The Return on Assets (ROA) in Sep'19 HY stands at (-)0.91%.

The Common Equity Tier-1 (CET-1) and Capital to Risk Weighted Assets Ratio (CRAR) has improved from 7.87% to 8.14% and from 11.35% to 11.68% on QoQ basis respectively. The above improvement has been achieved by efficiently managing the capital and infusion of capital through Preferential Issue of equity shares to Government of India.

Tier I(%) has improved to 9.87% as on 30.09.19 from 9.58% as on 30.06.19. Provision Coverage Ratio has improved from 59.77% as on 30.06.2019 to 65.52% as on 30.09.2019.

Retail Advances and Priority Sector Lending has also increased from Rs.15425 crore to Rs.16137 crore and from Rs.27233 crore to Rs.28124 crore respectively on YOY basis.

Net NPA has improved from Rs.5062 crore to Rs.4444 crore on QoQ basis. Consequently, the ratio of Net NPA to Net Advances has also improved from 7.77% to 7.07%.

The Business of the Bank stood at Rs.161558 crore as on 30.09.2019. CASA has improved from 22.91 % to 26.20 % on YOY basis.

Shares of PUNJAB & SIND BANK was last trading in BSE at Rs.18.85 as compared to the previous close of Rs. 19.5. The total number of shares traded during the day was 5149 in over 51 trades.

The stock hit an intraday high of Rs. 19.3 and intraday low of 18.5. The net turnover during the day was Rs. 96938.

Source: Equity Bulls

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