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Punjab & Sind Bank (PSB), a public sector bank, has reported a 26.98 percent increase in net profit for the quarter ended September 30, 2024 at ₹240 crore (₹189 crore).
The latest bottom line performance is also 32.60 percent higher over the net profit of ₹181 crore recorded in the June 2024 quarter.
Total income of the bank for the quarter under review grew 15.86 percent at ₹3,098 crore (₹2,674 crore). In the June 2024 quarter, total income stood at ₹2,846 crore.
Operating profit for the second quarter ended September 30, 2024 surged 76.15 per cent to ₹ 458 crore (₹260 crore). In June 2024 quarter, operating profit came in at ₹ 317 crore, PSB’s filing with stock exchanges showed.
Net interest margin (NIM) for the September 2024 quarter stood at 2.71 percent , up 38 basis points over 2.33 percent in same quarter last year.
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