Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Punjab & Sind Bank’s Lower Tier II Bonds worth Rs 875 crore.
The bank has received the said rating on the back of its healthy capitalization levels.
The bank has posted a fall of 20.77% in its net profit at Rs 117.07 crore for the quarter ended September 30, 2012 as compared to Rs 147.76 crore for the same quarter in the previous year. However, total income has increased by 10.20% at Rs 1885.75 crore for quarter under review as compared to Rs 1711.27 crore for the quarter ended September 30, 2011.
Gross non-performing assets (NPAs) of the bank have increased to 2.17% for the quarter as against 1.06% in the previous quarter. Net non-performing assets (NPAs) of the bank were at 1.58%, higher than 0.71% in the previous quarter.
