Type Public Headquarters India Founded 24 June 1908 Number of employees 9,403 (2016) | Traded as BSE: 533295
NSE: PSB Founder Vir Singh Owner Government of India | |
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Industry Banking
Financial services Key people S.Jatinderbir Singh (CEO&MD.), M.K.Jain (E.D.) , A.K. Jain (E.D.) Products Finance, FOREX, Retail Banking Revenue ₹8,744.34 crore (US$1.3 billion)(2016) Stock price PSB (NSE) ₹ 55.20 0.00 (0.00%)30 Mar, 11:55 AM IST - Disclaimer | ||
Punjab & Sind Bank (Hindi पंजाब एण्ड सिंध बैंक) is a government-owned bank (79.62%), with headquarters in New Delhi. Of its 1466 branches spread throughout India, 623 branches are in Punjab state. Its net profit is Rs. 121.35 crores and net NPA is 3.55% for the year ending 2014-15. The bank's operating profit for the year ending 2014-15 is Rs. 775.45 crores. Total business of the bank was Rs. 1,51,511 crores for the year ending 2014-15 and Business per employee is Rs. 15.95 crore. The net worth of the bank as on 31.03.15 is Rs. 4812 crore.
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History
On 24 June 1908, Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh established Punjab & Sind Bank.
On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalised in the second wave of nationalisations. (The first wave had been in 1969 when the government nationalised the top 14 banks.)
In the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987.
Since 2004 Punjab & Sind has shown growth of over 40% year on year, and its recent IPO was oversubscribed by more than 50 times. Recently the bank crossed a mark of Rs 1 lac crore in business.
Sutlej Gramin Bank is a Regional Rural Bank sponsored by Punjab & Sind Bank.