New Delhi: State-owned Punjab and Sind Bank said in a regulatory filing on Tuesday that the bank has recorded the highest-ever net profit of Rs 1,313 crores, registering a growth of 26.37 percent in Q4FY23. Further, the financial results reflected that the bank's operating profit zoomed to Rs 536 crores during Q4 FY 2023, with Y-o-Y growth of 69 .09 percent and registering a growth of 55.81 percent on Q-o-Q basis.

"The Bank surpassed the targets in Priority Sector Advance which stood at 54.99 percent and Agriculture Advance at 20.67 percent of ANBC, as on March 2023, against the regulatory target of 40 percent and 18 percent respectively," said the filing.

"The bank's Capital Adequacy ratio (CRAR) stood at 17.1 percent with Common Equity Tier 1 (CET-1) ratio of 14.32 percent at the end of March 2023," it said. The bank also witnessed a growth in its return on equity from 25.84 in Q4FY22 to 28.43 in Q4FY23, registering a growth of 259 bps. Its return on assets grew by 23 bps, the filing noted.

"The bank's GNPA reduced from 12.17 percent in Q4FY22 to 6.97 percent in Q4FY23 while its net NPA fell from 2.74 percent to 1.84 percent. The non-interest income of the bank has increased from Rs 215 crores in Q4FY22 to Rs 547 crores in Q4FY23," the filing noted.

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