Net interest income rose 4.09% YoY to Rs 738 crore in Q1 FY24 from Rs 709 crore recorded in Q1 FY23.

Operating profit stood at Rs 257.34 crore in the first quarter of FY24 from Rs 251.97 crore posted in the same period last year.

Slippage ratio was at 0.60% in Q1 FY24 as compared to 0.52% reported in Q1 FY23.

Total deposits rose by 12.49% on YoY basis to Rs 1,14,211 crore as on 30 June 2023. Gross advances were at Rs 80,314 crore as on 30 June 2023, recording a growth of 10.43% YoY.

CASA deposits increased to Rs 36,194 crore as on 30 June 2023, rising 4.84% YoY. CASA ratio stood at 31.69% as on 30 June 2023 as compared to 34% reported in the same period previous year.

On the asset quality side, gross non-performing assets (NPAs) stood at Rs 5,464.16 crore as on 30 June 2023 as against Rs 5,648.21 crore as on 31 March 2023 and Rs 8,243.74 crore as on 30 June 2022.

The ratio of gross NPAs stood at 6.80% as on 30 June 2023 as against 6.97% as on 31 March 2023 and 11.34% as on 30 June 2022.

The ratio of net NPAs stood at 1.95% as on 30 June 2023 as against 1.84% as on 31 March 2023 and 2.56% as on 30 June 2022.

Provision coverage ratio (PCR) was at 88.58% as on 30 June 2023 as compared with 88.10% as on 30 June 2022.

Capital adequacy ratio (CRAR) was at 17.19% with common equity tier 1 (CET-1) ratio of 14.46% at the end of June 2023.

Punjab & Sind Bank is a relatively small PSB, founded in 1908 in New Delhi. GoI's ownership stood at 98.25% as on 31 March 2023. The bank has 1533 number of branches, out of which 573 are Rural, 291 Semi-Urban, 367 Urban and 322 Metro along with 896 number of ATMs, 357 Business Correspondents.