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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

With the Covid-19-related stress as well as stress in couple of large ticket corporate accounts, the bank has seen increase in its stressed accounts

PSB’s earning profile has been moderate with relatively lower Net Interest Income as compared to other public sector banks due to higher cost of funds and interest reversals on account of high slippages.

The bank having established presence in north India, majority of the business is focused in the states of north India with the top three states (Delhi, Punjab and Maharashtra) contributing 61% of the total business. 



The issuer has made timely interest payments.

Swaroop Kumr Saha, MD and CEO

Given the majority ownership of GOI, PSB is expected to receive timely and adequate support in the form of capital as and when required.

On account of weak asset quality, leading to higher credit cost PSB has been reporting losses during FY18 to FY21 which impacted the capitalisation levels of the bank and the distributable reserves eroded with the bank having accumulated losses of Rs.3,577 crore as on March 31, 2021.

9.50%Punjab and Sind Bank 26 Oct 2029

ISIN:

INE608A08033

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Punjab & Sind Bank

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Sind Bank appoints Arnab Goswami as CFO

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

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