Punjab & Sind Bank is planning to raise capital up to an amount aggregating to Rs 250 crore in any combinations(s) thereof and in one or more tranches within a period of 12 months from the date of approval by way of issue of equity shares through Public Issue (Follow on Public Offer)/ Rights Issue/ Qualified Institutional Placement(s) / Preferential Issue or any other mode and bonds in the form of Basel III compliant Additional Tier I Bonds/ Basel III compliant Tier II Bonds. A meeting of the Board of Directors of the Bank is scheduled to be held on December 30, 2022 to consider the same.
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.
