Punjab & Sind Bank has decided to raise Rs 500 crore by issuing Basel III compliant bonds through private placement. The proposed bond issue has been rated as 'AA' by CARE & 'AA' (negative outlook) by Crisil. The Bids for issue of bonds shall be invited through Electronic Biding Platform (EBP).
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.
