Punjab & Sind Bank Q1 FY27: Net Profit Up 23.05% to ₹331 Crore, Advances Grow 19.35%
Punjab & Sind Bank reported a Q1 FY27 net profit of ₹331 crore, up 23.05% YoY. Advances grew 19.35% to ₹1,33,210 crore, with Retail, Agri, and MSME segments showing strong performance. Total business increased 15.27% to ₹2,66,420 crore. The bank aims for 18-20% advances growth and maintains a focus on improving asset quality and fee income.
The announcement details significant financial performance improvements, including substantial profit growth and robust advances expansion, which are material to investors and stakeholders. The forward-looking guidance also provides key insights into the bank's strategic direction and growth expectations.
The bank reported strong year-on-year growth in net profit and advances, along with improved asset quality and a positive outlook for key financial metrics. These factors indicate a favorable financial performance and future prospects.
Punjab & Sind Bank (PSB) announced its unaudited reviewed financial results for the quarter ended June 30, 2026. The bank reported a net profit of ₹331 crore, a significant increase of 23.05% year-on-year. Total business grew by 15.27% to ₹2,66,420 crore, driven by a 12.16% growth in deposits and a robust 19.35% expansion in advances.
The bank's advances saw broad-based growth across segments, with Retail growing at 36%, Agri at over 25%, and MSME at over 32%. RAM (Retail, Agri, MSME) advances now constitute 60% of the total loan book. Deposit growth was led by CASA at 10.2% and retail term deposits at 14.94%. Core fee income grew by 13.89%, with a target of ₹900-1000 crore for the current fiscal year.
Net interest income (NII) increased by 15.33% year-on-year. Operating profit remained stable at ₹545 crore, maintained despite lower treasury gains and recoveries compared to the previous year. The bank highlighted its ability to sustain operating profit through core business performance. Asset quality continued to improve, with Gross NPA at 2.21% and Net NPA at 0.65%, and a Provision Coverage Ratio (PCR) of 92.33%.
Looking ahead, PSB has guided for advances growth of 16-18%, with an aspiration to reach 18-20%. RAM advances are targeted to increase to 64-65% by the end of the year. The bank is focusing on digital initiatives, including online PAN generation, Digi Gold loans, and upcoming CBDC launch, to drive growth and efficiency. The bank also provided guidance on key financial metrics: NIM expected between 2.60%-2.65%, ROA between 0.85%-0.90%, ROE around 12%, and cost-to-income ratio below 60% for the current fiscal year. The Gift City branch is expected to open around November.
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