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Punjab & Sind Bank pays Rs 53 cr dividend to govt

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New Delhi: State-run Punjab & Sind Bank has paid Rs 52.60 crore dividend to the government for fiscal 2015-16. Chairman and Managing Director Jatinderbir Singh of the bank presented a cheque of the dividend amount to Finance Minister Arun Jaitley, the bank said in a release.

In 2015-16, bank’s net profit rose threefold to Rs 336 crore compared with Rs 121 crore in the previous year. Total income during the financial year increased to Rs
9,222.82 crore from Rs 9,017.30 crore.