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Punjab & Sind Bank Reviews

New Delhi

4.0/ 5

2 reviews

Punjab & Sind Bank (PSB) is a premier Indian public sector bank headquartered in New Delhi. Established on June 24, 1908, by visionary Sikh reformers of the Singh Sabha movement—including Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh—the institution was founded on a principle of social commitment to uplift weaker sections of society. Originally incorporated as 'The Punjab and Sind Bank Limited' in Amritsar, it was nationalized by the Government of India on April 15, 1980, during the second wave of bank nationalizations, becoming a government-owned undertaking. Today, the Government of India remains its majority shareholder, holding a 93.85% stake. The bank provides a comprehensive array of banking and financial services across India, structured into major business segments: Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. Its retail vertical offers diverse deposit products, such as savings, current, and fixed accounts, alongside customized loan products spanning housing, automobiles, education, and consumer durables. For commercial and institutional clients, PSB delivers corporate banking, trade finance, and treasury services. Additionally, the bank distributes third-party products, including mutual funds and life or general insurance policies, through strategic corporate alliances. As a significant player in India's financial landscape, Punjab & Sind Bank maintains a robust physical network with over 1,500 branches and 1,000 ATMs across the country, with its strongest operational footprint concentrated in Northern India, particularly within the state of Punjab and Delhi. To supplement its brick-and-mortar presence, the bank has heavily invested in digital transformation, adopting Infosys' Finacle core banking software across all branches and launching its mobile banking application, PSB Uniic, which caters to millions of digital transactions via UPI, internet banking, and digital wallets. Financially, Punjab & Sind Bank is publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under the ticker PSB. For the fiscal year ending March 31, 2025, the bank reported a total revenue of INR 13,048.95 crore and a net profit of INR 1,015.83 crore, driven by a strategic shift toward Retail, Agriculture, and MSME advances. Under the ongoing leadership of Managing Director and CEO Swarup Kumar Saha, alongside Non-Executive Chairman Charan Singh, the bank has demonstrated steady structural improvements, successfully reducing its Gross Non-Performing Assets ratio down to 2.40% and upgrading its credit profile to AA (Stable) by FY 2025-26. Combining its century-old legacy of social responsibility with modern technological advancements, the bank continues to expand its digital and physical reach across the nation.