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Punjab & Sind Bank to raise Rs 500 crore through Basel III bonds

23 Nov 2016 Evaluate

Punjab & Sind Bank is planning to raise Basel III Compliant Tier II Bonds through Private Placement aggregating up to Rs 500 core. The proposed Bonds issue has been rated as “AA” by CARE and 'AA with Stable Outlook-' by Brickwork Ratings.

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.

Peers
Company Name CMP
State Bank Of India 957.00
PNB 120.35
Bank Of Baroda 231.00
Canara Bank 116.40
Union Bank Of India 178.50
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