On Wednesday, January 15, the state-owned Punjab & Sind Bank said that its net profit for the third quarter, which ended on December 31, 2024, increased 146.72% year over year (YoY) to ₹282 crore. According to a regulatory filing, Punjab & Sind Bank reported a net profit of ₹114.3 crore for the equivalent quarter of the previous fiscal year.
The difference between a bank's interest income from lending and the interest it pays depositors is known as net interest income (NII), and it rose 27% to ₹938.7 crore from ₹739.2 crore in the same quarter of FY24.
Compared to 4.21% in the September quarter, gross non-performing assets (NPA) were 3.83% in the December quarter. Net NPA was 1.25% as opposed to 1.46% on a quarterly basis (QoQ). Against ₹150.6 crore sequentially and ₹96.3 crore (YoY), provisions were ₹109.3 crore.
According to people with knowledge of the situation, the government authorized a ₹10,000 crore fundraising plan yesterday for five state-run lenders through a qualified institutional placement (QIP).
According to sources, four additional lenders—Punjab & Sind Bank, Indian Overseas Bank, UCO Bank, and Central Bank of India—have been given permission to raise money in addition to the Bank of Maharashtra. According to the sources, these lenders may begin raising money in tiny installments as early as the fourth quarter of the 2025 fiscal year.
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