Punjab & Sind Bank plans to raise Rs 2,000 crore via QIP in Q2 or Q3 to fund growth and improve Capital Adequacy Ratio.
Punjab & Sind Bank, a state-owned lender, plans to raise Rs 2,000 crore in Q2 or Q3 via a QIP to fund business growth. The bank's board has approved the plan and anticipates the asset book to grow by 12-14% this year, with retail, agriculture, and MSME sectors experiencing a 15-18% growth. This QIP aims to improve the bank's Capital Adequacy Ratio and reduce the government's stake, currently at 98.25%.
June 30, 2024
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