Punjab & Sind Bank surges on reporting 7.37% rise in total deposits during Q4FY23!

Punjab & Sind Bank surges on reporting 7.37% rise in total deposits during Q4FY23!

by 5paisa Research Team Last Updated: Apr 06, 2023 - 05:49 pm 312 Views

Shares of the company gained more than 60% in the last six months.

Business as of March 31, 2023 (Q4FY23)

Punjab & Sind Bank’s total deposits grew 7.37% to around Rs 1,09,668 crore as of March 31, 2023 (Q4FY23), as compared to Rs 1,02,137 crore on a yearly basis. Quarterly, the deposits stood at Rs 109497 crore as of December 2022.

Gross Advances stood at around Rs 81544 crore as of March 31, 2023, posting a 15.85% rise in year-on-year (YoY) terms against Rs 70387 crore as of March 31, 2022, and on a quarter-on-quarter (QoQ) basis stood at Rs 77745 crore in December 2022. The CASA deposits were up 6.68% to around Rs 36834 crore as of March 31, 2023, against Rs 34528 crore YoY. CASA ratio reached 33.59% (Q4FY23) from 33.30% (Q3FY23).

Total Business stood at Rs 191212 crore (provisional) as of March 31, 2023, posting a 10.83% rise year-on-year against Rs 172524 crore as of March 31, 2022.

Share price movement of Punjab & Sind Bank Limited

Today, the stock opened at Rs 26.06, with a high and low of Rs 26.79 and Rs 25.57. The stock previously closed at Rs 26.04. The stock closed trading today at Rs 26.39, up by 1.34%. The stock has a 52-week high of Rs 44.65 and a 52-week low of Rs 12.50.

Company profile

Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.

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