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Punjab & Sind Bank said that its board has been appointed Arnab Goswami as chief financial officer (CFO) of the Bank vice Mahima Agarwal for a period of 3 years with effect from 3 April 2024.Arnab Goswamy is a qualified Chartered Accountant and Cost Accountant. He has worked at Indusind Bank, and ICICI Bank. Prior to joining Punjab & Sind Bank, he was associated with Bandhan Bank as vice president. In a career spanning over two decades, he has vast experience in the banking sector across finance and accounting, banking operations, MIS and financial analysis, reconciliation, system and process management, regulatory reporting, treasury operations, credit underwriting, stress asset management, it transformation, corporate and retail banking, business planning and budgeting, internal audit, compliance key accounts management and team management

Sind Bank appoints Arnab Goswami as CFO

The Punjab & Sind Bank (PSB) have launched a nationwide Credit Outreach Programme from July 11 to July 31. The bank’s initiative will help in strengthening customer connect and augment credit growth under Retail, Agriculture & MSME segment. Currently, PSB is running a MSME business mobilization campaign 'PSB MSME SATKAR PLUS' wherein the Bank is offering the most competitive Rate of Interest with NIL processing fee. PSB is also planning to hold various customer meets across the nation for the mobilisation of business during the ongoing credit outreach program.

Punjab & Sind Bank launches outreach program to boost credit growth in retail, agri & MSME sector

State-owned Punjab & Sind Bank on Saturday reported a 48 per cent jump in net profit to ₹269 crore during the first quarter of this financial year, aided by improvement in core income and decline in bad debts. The lender had earned a net profit of ₹182 crore in the same quarter of the previous fiscal year. The total income rose to ₹3,379 crore during the June 2025 quarter from ₹2,846 crore in the same quarter of FY25, Punjab & Sind Bank said in a regulatory filing. Interest earned by the bank improved to ₹2,911 crore compared to ₹2,652 crore in the June quarter of FY25. During the period, the operating profit of the bank increased to ₹540 crore compared to ₹317 crore a year ago.

Punjab & Sind Bank Q1 net profit surges 48% to ₹269 cr

PSB’s FY25 PAT surged 71% to ₹1,016 crore (0.67% ROTA) as NII grew 33% and NIM rose to 2.49%. Efficiency improved with a 61% cost-to-income ratio. However, Q1FY26 PAT dipped to ₹269 crore on lower yields. Despite progress, profitability lags peers due to non-earning assets and high costs from a low CASA base.



As of March 2025, PSB’s restructured assets were ₹1,194 crore (1.2% of advances), while SMA 1 & 2 levels stood at 2.79% (rising to 3.42% in June 2025). SMA 2 exposure fell sharply to 0.23% from 1.88% in FY24. However, net stressed assets remain high at ~22% of net worth—exceeding peer averages—making slippage management a key monitorable.


PSB’s CASA grew 5% to ₹40,790 crore in FY25, yet its share declined to 30.59% by June 2025. This trails the ~40% public sector average, sustaining higher funding costs.




The issuer has made timely interest payments.

Shri  Swarup Kumar Saha MD and CEO

PSB's asset quality improved over four years, driven by recoveries and ₹1,521 crore in FY25 write-offs. From FY24 to Q1FY26, GNPA fell from 5.43% to 3.34% and NNPA from 1.63% to 0.90%. Slippages dropped to 0.85% with a 68.4% PCR. Though improving, the ~9% NNPA-to-net-worth ratio remains above peer averages.




The GoI maintains a 93.85% stake in PSB, ensuring ongoing support for capital and operations. Between FY18 and FY22, the government infused a total of ₹11,672 crore—including ₹4,600 crore in FY22—via recapitalization bonds. Consequently, CareEdge Ratings expects timely, continued capital support given the GoI’s majority ownership.


PSB’s capital strengthened via internal accruals, a ₹1,219 crore QIP, and ₹10,100 crore in GoI recapitalization bonds. An RBI exemption protected the P&L from fair-valuation adjustments on these bonds. By June 2025, CAR reached 17.90% and Tier-I 16.02%, providing a robust growth buffer. CareEdge Ratings expects these levels to be sustained through future accruals and capital raises.


PSB has a strong Northern India presence with 962 of its 1,607 branches located there. In FY25, deposits grew ~9% and CASA >5%. However, the CASA ratio fell to 30.59% by June 2025 (from 32.42% in March 2024), trailing peer averages and resulting in higher deposit costs.


Rating agency	Rating	Needle position
CRISIL	AA Stable	near High Safety
CARE	AA Stable	near High Safety

Security Name: 7.99% Punjab and Sind Bank 19 Oct 2026

ISIN: INE608A08017

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