Punjab & Sind Bank a premiere public sector Bank in the country, on July 31, 2023 paid a record dividend cheque of Rs. 319.63 crore for the financial year 2022-23 to Finance Minister Nirmala Sitharaman. The dividend cheque was presented by Swarup Kumar Saha MD & CEO, Punjab & Sind Bank along with Executive Director Dr. Ram Jass Yadav in the presence of M.G. Jayasree, Deputy Dir General, Department of Financial Services.
Punjab & Sind Bank declared a dividend of Rs 0.48 per equity share (4.8 percent) for the financial year ended on March 31, 2023. This dividend payment reflects the bank’s impressive financial performance during the fiscal year. PSB’s net profit for the full year 2022-23 soared to Rs 1313 crore, compared to Rs 1039 crore in the previous fiscal year. Bank has been consistently putting promising results with strong fundamental indicators. The substantial increase in profitability showcases Banks ability to navigate challenges and generate robust returns. The bank has consistently shown resilience and adaptability to changing market dynamics, enabling it to remain at the forefront in terms of performance. Punjab & Sind Bank’s performance reflects the dedication and efforts of its employees, as well as the effectiveness of its strategic decisions and operational policies undertaken by the bank. This has helped bank to maintain profit and growth trajectory with strong focus on digitization and ease of banking.