Punjab & Sind Bank is planning to raise funds through issuance of Basel-III compliant Additional Tier-I Bonds or Tier-II Bonds, in one or more tranches within a period of 12 months from the date of approval. A meeting of the Board of Directors of the Bank is scheduled to be held on June 12, 2023 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.
