Punjab & Sind Bank's Board of Directors approved the reviewed unaudited financial results for the quarter ended June 30, 2026 (Q1 FY2026-27) at a meeting held on July 18, 2026. The meeting commenced at 1:30 PM and concluded at 4:35 PM.

Financial Performance (Rupees in Lacs)

Profitability:

  • Net Profit for the quarter stood at ₹33,151 lacs (₹331.51 crore), compared to ₹42,183 lacs in the previous quarter (Q4 FY26) and ₹26,916 lacs in the year-ago quarter (Q1 FY26).
  • Profit before tax was ₹45,149 lacs.
  • Total Tax Expense was ₹11,998 lacs.
  • Operating Profit before Provisions & Contingencies was ₹54,548 lacs.
  • Provisions (other than tax) and Contingencies were ₹9,399 lacs, which included Provisions for Non-Performing Assets of ₹12,354 lacs.

Income:

  • Total Income was ₹354,572 lacs (₹3,545.72 crore).
  • Interest Earned was ₹321,337 lacs, comprising:
  • Interest/discount on advances/bills: ₹234,917 lacs
  • Income on Investments: ₹84,723 lacs
  • Interest on Balances with RBI & Other Inter Bank Funds: ₹521 lacs
  • Others: ₹1,176 lacs
  • Other Income was ₹33,235 lacs.

Expenditure:

  • Total Expenditure (excluding Provisions & Contingencies) was ₹300,024 lacs.
  • Interest Expended was ₹217,467 lacs.
  • Operating Expenses were ₹82,557 lacs, comprising:
  • Employees Cost: ₹49,508 lacs
  • Other Operating Expenses: ₹33,049 lacs

Key Metrics & Ratios:

  • Earnings Per Share (EPS) (not annualized) was ₹0.47.
  • Net Interest Income (NII) (calculated) was ₹103,870 lacs (Interest Earned ₹321,337 lacs - Interest Expended ₹217,467 lacs).
  • Return on Assets (Annualised) was 0.73%.
  • Net Profit Margin was 9.35%.
  • Operating Margin was 15.38%.
  • Capital Adequacy Ratio (Basel III) was 17.61%, with CET-1 Ratio at 16.56%.
  • Net Worth was ₹12,49,957 lacs.

Asset Quality:

  • Gross Non-Performing Assets (GNPAs) were ₹263,695 lacs (2.21% of advances).
  • Net Non-Performing Assets (NNPAs) were ₹76,586 lacs (0.65% of advances).
  • Provision Coverage Ratio (including Technical Write-offs) was 92.33%.

Capital Structure:

  • Paid-up Equity Share Capital remained unchanged at ₹709,559 lacs (Face Value ₹10/-).
  • Government of India shareholding was 93.85%.
  • Reserves (excluding Revaluation Reserve) as per the previous year's balance sheet were ₹597,630 lacs.

Segment Reporting (Rupees in Lacs)

Business Segment Revenue:

  • Treasury Operations: ₹92,756 lacs
  • Corporate/Wholesale Banking: ₹104,367 lacs
  • Retail Banking: ₹156,672 lacs (Digital Banking: ₹11 lacs; Other Retail Banking: ₹156,661 lacs)
  • Other Banking Operations: ₹777 lacs

Business Segment Result:

  • Treasury: ₹22,261 lacs
  • Corporate/Wholesale Banking: ₹16,135 lacs
  • Retail Banking: ₹24,220 lacs (Digital Banking: -₹56 lacs; Other Retail Banking: ₹24,276 lacs)
  • Other Banking Operations: ₹777 lacs
  • Total Segment Result: ₹63,393 lacs
  • Unallocated Expenses: ₹8,845 lacs

Notes to Accounts

1. Audit Committee & Review: The financial results were reviewed and approved by the full Board as the Audit Committee could not be constituted due to insufficient directors. The results were subjected to a 'Limited Review' by the Statutory Central Auditors.

2. Accounting Policy: Results prepared per AS 25, following the same policies as annual statements except for Investment Fluctuation Reserve (IFR). An existing IFR of ₹354.21 crore was transferred to General Reserve following an RBI directive dated May 18, 2026.

3. Provisions: Provisions made for NPAs, standard assets, employee benefits, income tax, and deferred tax. The Bank continues to recognize taxes under earlier provisions and has not opted for section 115BAA of the Income Tax Act.

4. Deferred Tax: Net Deferred Tax Assets of ₹1,073.90 crore recognized as of June 30, 2026.

5. Insolvency Process: Provision of ₹229.63 crore held against NPA borrowal accounts referred under RBI insolvency circulars.

6. MSME Restructuring: Details of MSME restructured accounts:

  • As of June 30, 2026: 720 accounts, amount ₹54.30 crore, provision ₹19.41 crore.
  • As of June 30, 2025: 3076 accounts, amount ₹53.44 crore.

7. COVID-19 Resolution Framework 2.0:

  • As of June 30, 2026: 4110 accounts restructured, amount ₹451.68 crore, provision held ₹88.82 crore.

8. Food Credit: Provision of ₹7.63 crore held against food credit availed by the State Government of Punjab.

9. Additional Standard Asset Provision: Provision of ₹111.84 crore held for one borrower's account per RBI directions.

10. Loan Transfers/Acquisitions:

  • No SMA or NPA transfers during the quarter.
  • Details of standard assets acquired:
  • Co-Lending: 76,680 accounts, ₹3,861.75 crore outstanding.
  • Pool Buy-out: 107,517 accounts, ₹3,992.65 crore outstanding.
  • Weighted average residual maturity: 1.14 years; holding period: 0.49 years.

11. Security Receipts: Book Value of Security Receipts held: ₹248.72 crore (RR1 rated).

12. Project Finance Disclosures: Provided detailed breakdown of projects under implementation, including accounts, outstanding amounts, and resolution processes.

13. Fraud: During the quarter, the Bank reported 8 fraud cases (1 non-borrowal, 7 borrowal) amounting to ₹152.23 crore, with a provision of ₹1.03 crore made for the loss of ₹1.03 crore.

14. Litigation: Funded exposure of ₹103.57 crore in 2 accounts where stay was granted on downgrading; adequate provisions held.

Certifications & Statements

Deviation in Fund Utilization: A statement was filed confirming NIL deviation/variation in the utilization of funds raised during the quarter, as required under SEBI LODR Regulations 32(1) and 52(7).

Security Cover Certificate: A certificate was provided for listed non-convertible debt securities (unsecured, amounting to ₹4,237.30 crore), confirming compliance with covenants. As the bonds are unsecured, the security cover annexure was NIL.

Filing and Availability

The reviewed results, along with the limited review report, segment reporting, deviation statement, and security certificate, were filed with BSE Limited and the National Stock Exchange of India Ltd. The documents are also available on the Bank's website at https://punjabandsindbank.co.in/.