Punjab & Sind Bank has proposed to issue Basel-III Compliant Tier-II Bonds amounting up to Rs 500 crore by way of private placement. The bank has received ratings of ‘AA/Stable’ by CRISIL Ratings and ‘AA’ by CARE Ratings for the proposed issue of bank.
Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.
