Punjab & Sind Bank

Punjab & Sind Bank: Trading Window closed from October 01, 2026 till 48 hours after the date of the Board meeting held to approve the financial results for the Quarter ended September 30, 2026

MTN programme approval

• Approved establishment of a foreign currency MTN programme up to USD 1 billion for bond issuance.
• Date of approval: 29 September 2026.

Meeting Details

• Board meeting scheduled for 29 September 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve proposal to raise foreign currency funds through debt issuance.

Other Notes

• No other material notes disclosed in the filing.

Executive Director tenure extension

• Ravi Mehra, Executive Director, tenure extended from Oct 8, 2026 to Dec 31, 2026 or until further orders.
• Reason: Govt of India DoF notification no eF.No.4/1(v)/2025-BO.I dated Sep 23, 2026.
• Effective date: Sep 23, 2026 per government notification.
• Profile: Executive Director; no additional profile details provided in filing.

Strike notice and potential impact

• Notice served for all-India strike, 28–30 Sep 2026; branches may be affected if it materializes.

Rating Action

• CRISIL reaffirmed AA/Stable ratings on Infrastructure Bonds and Tier II Basel III Bonds.

Instruments & Ratings

• Infrastructure Bonds Rs 3,000 crore: AA/Stable (Reaffirmed).
• Tier II Bonds Series XIV Rs 500 crore: AA/Stable (Reaffirmed).
• Tier II Bonds Series XVI Rs 500 crore: AA/Stable (Reaffirmed).

Rationale & Strengths

• GoI support remains a key rating strength due to majority GoI ownership.
• Capital adequacy improved: CET1 16.56%, CAR 17.61% as of 30 Jun 2026.
• GNPA improved to 2.21% as of 30 Jun 2026.
• PAT rose to Rs 1,322 crore in FY2026; ROA 0.74%.
• Liquidity strong with LCR above requirement and buffers.
• RAM segments driving earnings: retail, agriculture, MSME growth.

Outlook

• Outlook: Stable for all reaffirmed ratings.

Rating Sensitivities

• Upward factors: stronger market position and profitability; RoA above 1%.
• Downward factors: GoI support risk; asset quality deterioration; capital buffers erode.

Recent Change

• Rating reaffirmed; no change in outlook.

Strike notice and potential impact on operations

• Notice of All India Strike proposed by United Forum of Bank Union for 11.09.2026.
• Bank states steps to ensure smooth functioning of branches; operations may be affected if strike materializes.
• Filing submitted under Regulation 30 of SEBI LODR Regulations, 2015.
• Date of filing: 10 September 2026.

Instruments & Rating

• Tier II Bond Series XIV (₹500 crore): CARE AA; Stable (Reaffirmed)
• Tier II Bond Series XV (₹237.30 crore): CARE AA; Stable (Reaffirmed)
• Tier II Bond Series XVI (₹500 crore): CARE AA; Stable (Reaffirmed)

Rationale & Drivers

• Asset quality improved in FY26 due to recoveries and lower slippages.
• GOI ownership at 93.85% supports capital infusions.
• CAR 17.61% and CET I 16.56% as of 30-Jun-2026.
• NIM expected to improve as RAM lending grows.
• Profitability remains moderate due to high cost of funds and non-earning assets.
• NNPA to net worth remains elevated; stressed assets sizable.
• Liquidity adequate; LCR 133.45%, NSFR 127.67%; excess SLR ₹8,762 crore.
• Tier II PONV trigger exists; RBI to determine PONV.

Outlook

• Stable outlook assigned by CARE Ratings.

Material Changes

• Rating reaffirmed; no change in rating or outlook.

Financial Highlights

• Total income FY26 ₹13,759 crore; NIM 2.25%; GNPA 2.40%.
• CAR 17.61%, PAT ₹1,322 crore (FY26).

Appointment of Part-Time Non-Official Director

• Shri Kristam Subba Raju Guptha appointed as Part-Time Non-Official Director, effective 12 Aug 2026, for 3 years.
• Reason: Central Government nomination for a 3-year term, or till further orders.
• Brief profile to be submitted separately.
• Relationship between Directors: Nil.

AGM Details

• Date and time: 28 July 2026 at 11:00 AM; VC/OAVM mode.
• Record date for dividend: 21 July 2026.
• Meeting ended: 12:30 PM.

Resolutions & Outcomes

• Item 1: Adopt Audited Balance Sheet, P&L, Board report; ordinary; passed 99.9% assent.
• Item 2: Declare dividend of Rs 0.39 per share; ordinary; passed 99.93% assent.

Dividend Details

• Dividend proposed/approved: Rs 0.39 per equity share; payment within 30 days.

Governance & Voting Process

• Scrutinizer appointed for remote e-voting and AGM voting.