Punjab & Sind Bank turns black in Q3

Punjab & Sind Bank has reported results for third quarter ended December 31, 2018.

The Bank has reported a net profit of Rs 22.34 crore for the quarter under review against net loss of Rs 258.25 crore for the same quarter in the previous year. Total income of the Bank increased by 7.27% at Rs 2337.13 crore for Q3FY19 as compared Rs 2178.69 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 11.19%, as compared to 10.95% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 6.90% in Q3FY19.