Punjab & Sind Bank Sees Profits Surge Amid Cutting Bad Loans

Punjab & Sind Bank announced a 26% increase in net profit to Rs 240 crore for the September quarter, primarily driven by reduced bad loans. Total income rose to Rs 3,098 crore, with improvements in interest income and asset quality. Capital adequacy and provision coverage ratios also showed positive gains.

Punjab & Sind Bank reported a notable 26% rise in net profit, reaching Rs 240 crore for the September quarter, largely due to a significant reduction in bad loans.

The bank's total income increased to Rs 3,098 crore, compared to Rs 2,674 crore a year ago, as confirmed in a recent regulatory filing.

Enhanced performance was also reflected in the bank's asset quality and capital adequacy ratios, demonstrating a robust fiscal quarter.

(With inputs from agencies.)