Punjab & Sind Bank Q2 profit jumps 23% to Rs 295 crore; board approves fund raising

New Delhi: State-owned Punjab & Sind Bank (PSB) on Thursday reported a 29.5 percent jump in net profit at Rs 295 crore in the second quarter ended September 30.

The bank had a net profit of Rs 240 crore in the July-September period of last fiscal.

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In a regulatory filing, PSB said its board has approved raising capital in one or more tranches by March 2027 aggregating up to Rs 5,000 crore. This consist of raising Rs 3,000 crore through QIP/FPO/rights issue, and Rs 2,000 crore by way of bonds.

The board in its meeting on Thursday also approved raising funds of Rs 3,000 crore in the form of long-term infrastructure bonds in one or more tranches by March 2027.

As per the quarterly results approved by PSB board, interest income rose to Rs 2,999 crore in the September quarter of FY26, from Rs 2,739 crore in the same quarter of FY25.

Gross Non-performing assets (NPA) improved to 2.92 percent of loans in Q2, from 4.21 percent in Q2 of FY25.

Shares of PSB closed at Rs 30.22 apiece, up 0.23 percent from previous close on BSE.

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