The Headlines – Punjab & Sind Bank to raise Rs 2,000 crore via QIP this quarter: MD & CEO Swarup Kumar Saha

Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement this quarter, reducing government holding by 3-4%. The government currently holds a 98.25% stake. This fundraising will boost the capital adequacy ratio by March 2025. The bank’s net profit surged to Rs 282 crore in Q3, 2024, as bad loans declined.

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