PUNJAB & SIND BANK

Punjab and Sind Bank is a leading public sector bank and a major bank in Northern India. The Bank is engaged in providing a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers. The Government of India holds 98.25% of the total equity share capital in The Punjab and Sind Bank. In retail banking, the bank provides loans and advances for housing, trade, automobiles, consumer durables, education and personal loans. We provide commercial banking products and services to corporate customers, including mid-sized and small businesses and government entities. In corporate banking, the Bank's loan products include term loans to finance capital expenditure of assets across various industries as well as short-term loans, cash and export credit and other working capital financing and bill discounting facilities. They also provide credit substitutes, such as letters of credit and guarantee. They also engage in syndication of loans provided by other financial institutions and other fee-based services such as cash management and remittance services. In the priority sector, the Bank offers direct financing to farmers for production, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs. They also offer a wide range of general banking services to our customers including ATM cards, cash management, remittance services and collection services. The Bank also distributes third-party products such as life and non-life insurance policies through corporate agency agreements with Aviva Life Insurance Company India Pvt Ltd and Bajaj Allianz, respectively, and mutual funds with UTI AMC through a distribution agreement. They also act as an agent for various state governments and the GoI on numerous matters including the collection of taxes and payment of salary and pension. The Bank delivers their products and service through a wide variety of channels ranging from bank branches and ATMs. They have branch presence across India, with a presence predominantly in north India. As of July 31, 2010, the Bank has over 920 branches / extension counters and 63 ATMs spread across the country. Out of these 920 branches, they have 49 specialised branches including specialised agriculture branches, personal banking branches and MSME branches and one locker branch to cater to their customers from varied sectors including our priority sector customers. Punjab and Sind Bank was incorporated on June 24, 1908 with the name 'The Punjab and Sind Bank Ltd' in Amritsar, Punjab. The Bank was established by Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh. The Bank was founded on the principle of social commitment to help the weaker section of the society in their economic endeavors to raise their standard of life. In April 1980, the Bank is one of the six banks nationalized by the GoI. Thus, the Bank became GoI undertaking and the name was changed to Punjab & Sind Bank. In March 22, 1986, the Bank established Sutlej Gramin Bank as a Regional Rural Bank in Punjab, under the name Faridkot - Bathinda Kshetriya Gramin Bank. In July 2004, the Bank in collaboration with ICICI Bank Ltd launched the 'Punjab & Sind Bank-ICICI Bank Credit Card'. The Bank made special tie-up arrangements for Non Life insurance business with Bajaj Allianz General Insurance Company and Life Insurance business arrangements with Aviva Life Insurance Company India Pvt Ltd for providing their valued customers all the insurance related services under one roof. In the annual Business Today-KPMG survey of Best Banks in India 2008, the Bank was ranked number one in the list of 'Small Sized Best Banks in India'. In June 24, 2010, the first CBS branch was rolled-out. In February 24, 2010, the Bank signed a 10-year contract with IT major Wipro Ltd for comprehensive IT outsourcing services for Bank. In December 2010, Punjab and Sind Bank came out with the public issue of 4,00,00,000 equity shares aggregating to Rs 470.82 crore. The fund proceeds would be utilised for business expansion. As on 31 March, 2010, total Business of the Bank stood at Rs. 81893.76 crores. Total deposits of the Bank stood Rs. 49,155.09 crore. The Bank installed 59 ATMs during the year. It had 918 new branches, of which it opened 6 new branches and converted 7 General Banking branches into Specialized SME branches thus raising the number of SSI/ SME branches to 11. As on 31 March, 2011, total Business of the Bank stood at Rs. 1,02,556 crores. Total deposits of the Bank stood Rs. 59,723 crore. The Bank installed 83 ATMs during the year. It opened 47 new branches. As on 31 March, 2012, total Business of the Bank stood at Rs. 109493 crores. Total deposits of the Bank stood Rs. 63124 crore. The Bank installed 35 ATMs during the year, which resulted in total of 118 onsite /offsite ATMs as on 31 March, 2012. It opened 63 new branches, which included 12 branches opened under the Financial Inclusion Plan. As on 31 March, 2013 total Business of the Bank stood at Rs. 122485 crores. The total deposit of the Bank was recorded Rs. 70641.50 crore. It signed MOU with Onicra Credit Rating Agency of India Ltd, M/s Star Agriwarehousing & Collateral Management Ltd and National Housing Bank (Credit Guarantee Fund Trust for Low Income Group Housing). 61 ATMs were installed during the year upto 31 March, 2013. The Bank opened 101 new branches in 2012-13 which include 38 branches opened in Unbanked rural centres. The Bank opened 202 new branches during the year 2013-14. It installed 829 ATMs and the total ATMs stood at 1008 as on March 31, 2014. As on 31 March, 2014, Bank had 29 MSME branches. During year ended 31st March, 2014 total Business of the Bank stood at Rs. 142588 crore. Total deposits of the Bank stood at Rs. 84730.16 crore. As on 31 March 2015, total Business of the Bank stood at Rs. 151511 crore. The total deposit of Bank stood at Rs. 86714.71 crore as on March 31, 2015. Bank opened 126 new branches during the year 2014-15, of these, 59 branches were opened under Financial Inclusion. It installed 260 new ATMs during the year 2014-15 and total ATMs of the Bank stood at 1268 as on 31st March, 2015. As on 31 March 2016, the total deposit of the Bank registered a growth of 5.23% with net accretion of Rs. 4535.24 crore. Total Business of the Bank recorded an increase of 3.31% at Rs. 156527 crore. It opened 32 new branches in FY 2015-16. As on 31 March, 2016, all 1481 branches are on Core Banking Solution. The Bank installed 71 new ATMs during the Year 2015-16. Total number of ATMs of the Bank as on 31st March, 2016 was 1341. During the year ended 31 March, 2017, total Business of the Bank stood at Rs. 145803 crore. The total deposits of the Bank stood at Rs. 101,726.17 crore. The Bank had 1500 branches as on 31 March, 2018. It installed 30 new ATMs during the Year 2016-17 and the total ATMs stood at 1253 as on 31 March, 2017. During the year ended 31 March, 2018, total Business of the Bank stood at Rs. 1,71,464.95 crore. The total deposits of the Bank stood at Rs. 85540.16 crore. Bank added 36 branches in the category of specialized MSME branches thus raising total number of Specialized MSME branches to 144. During the year ended 31 March, 2019, total Business of the Bank stood at Rs. 1,71,305.07 crore. The total deposits of the Bank stood at Rs. 98,557.60 crore. Bank increased 36 branches in the category of specialized MSME branches thus raising total number of Specialized MSME branches to 144. During the year 2020, total Business of the Bank stood at Rs. 1,52,231.75 crore. Total deposits of the Bank stood at Rs. 89667.55 crore as at 31 March, 2020. The Bank had 1526 branches as on 31 March, 2020. Total business of the Bank increased by 7.68% reached at Rs. 163919.35 crore as on 31 March, 2021. Total deposits of the Bank stood at Rs. 96108.180 crore as on 31 March, 2021. The Bank had 1537 branches as on 31 March, 2021. Total business of the Bank increased by 5.25% reached at Rs. 172524.10 crore as on 31 March, 2022. Total deposits of the Bank stood at Rs. 102137.10 crore as on 31 March, 2022. The Bank had 1530 branches as on 31 March, 2022. Total business of the Bank reached at Rs.190647.22 crore as on 31.03.2023. Total deposits of the Bank stood at Rs.109665.49 crore as on 31.03.2023. The Bank's branch network was expanded by opening 28 new branches across India in 2023 which stood at 1531 branches as on 31 March, 2023. The Bank expanded the ATM network to 1097 as on 31.03.2023. Total business of the Bank reached at Rs. 205374 Crore as on 31.03.2024. Total deposits of the Bank stood at Rs. 119410 Crore as on 31.03.2024. The Bank's branch network was expanded by opening 33 new branches across India in 2024, which stood at 1564 branches as on 31 March, 2024. The Bank opened 198 ATMs during the year and total number of ATMs stood at 1033 as on 31.03.2024. Total business of the Bank reached at Rs. 229379 Crore as on 31.03.2025. Total deposits of the Bank stood at Rs. 129774 Crore as on 31.03.2025. The Bank's branch network was expanded by opening 52 new branches across India in 2025, which stood at 1610 branches as on 31 March, 2025. The Bank expanded the ATMs to 1033 as on 31.03.2025.