Punjab & Sind Bank to raise Rs 2,000 crore via QIP this quarter: MD & CEO Swarup Kumar Saha

Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement this quarter, reducing government holding by 3-4%. The government currently holds a 98.25% stake. This fundraising will boost the capital adequacy ratio by March 2025. The bank's net profit surged to Rs 282 crore in Q3, 2024, as bad loans declined.

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/johWw0L