Punjab & Sind Bank : Unaudited Reviewed Financial Results for the Quarter (Q1) ended 30.06.2022

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H.O. Account & Audit Department

"SHARES CELL" Bank House, 1st Floor 21, Rajendra Place, New Delhi- 110008

Phone: [phone], Email: [e-mail]

�'4/Ref. No. PSB/HO/Shares Cell/ 53 /2022-23				� /Dated: :�_l!g��.U,.��iJ ....
	To,
	BSE Limited,			National Stock Exchange oflndia Ltd.,
	Derartment ofCorporate Services,		Exchange Plaza, C-1,Block-G,
	25t floor, Phiroze Jeejeebhoy Towers,		Bandra Kurla Complex, Bandra (East),
	Dalal Street, Fort,		Mumbai -400 051.
		Mumbai -400 001.			SYMBOL: PSB	SERIES: EQ
		SCRIP ID : PSB
	SCRIP CODE : 533295
Dear Sir,

Reg: Outcome ofBoard Meeting held on 01.08.2022:

We wish to inform that the Board ofDirectors of Punjab & Sind Bank at its meeting held on 1st August, 2022 approved the Unaudited Reviewed Financial Results of the Bank for the Quarter (Ql) ended June 30, 2022.

In this connection, we enclose the following:

1. A copy of Reviewed Un-audited Financial Results, Segment Reporting and Limited Review Report by Auditors. The same can also be viewed on the website of the Bank i.e. https://punjabandsindbank.co.in/
2. Deviation/Variation in Utilization of Funds Raised for the Quarter ended 30.06.2022 in terms of Regulation 32(1) and 52(7) of SEBI (LODR) Regulations, 2015 is NIL and the same is enclosed.
3. Asset Cover Certificate as on 30.06.2022

The meeting of the Board ofDirectors commenced at 12:30 p.m. and concluded at 01:40 p.m.

You are requested to take a note of the above.

Yours faithfully,

$>>1(�

[Saket Mehrotra]

Company Secretary

						PUNJAB & SINO BANK
						Head Office: 21, Rajendra Place, New Delhi 110008
						Reviewed Financial Results for the Quarter ended 30th June, 2022
																						(Rupees in lacs)
	SI.										QUARTER ENDED								YEAR
									30.06.2022														ENDED
			Particulars			31.03.2022		30.06.2021
	No.								31.03.2022
1									Reviewed		Audited			Reviewed		Audited
	INTEREST EARNED(a+b+c+d)		180047
			179329		169042		709581
				al.Interest/ discount on advances/bills	122057		119316		116742		477841
				b) Income on Investments		54853			54568		47647		209466
				cl Interest on Balances with RBI & Other Inter Bank Funds	1125		3310		1954		11843
				d) Others	2012		2135		2699		10431
2		Other Income	11500		21461
			31788		95938
3		TOTAL INCOME(1+2)	191547		200790		200830		805519
4		Interest Expended		109101		109573		111141		444450
5		Operatinq Expenses (i)+(ii)		57249		59468		51731
					228060
				i) Emolovees Cost		32732		35972
							33801		145338
				ii) Other Operatinq Expenses		24517			23496		17930		82722
6	TOTAL EXPENDITURE (4+5) (excludina Provisions & Continaencies)		166350		169041		162872		672510
7		Operating Profit before Provisions & Contingencies(3-6)	25197		31749		37958		133009
8		Provisions (other than tax) and Continoencies	-3023		-13156		4599		14340
				Of Which Provisions for Non Performino Assets	2712		866		-2275		98896
9		Exceptional Items		0		0		0		0
10		Profit(+)/ Loss(-) from Ordinary Activities before tax(7-8-9)		28220		44905		33359		118669
11		Tax Exoense		7750		10295		15974		14764
											20470		34610		17385		103905
	12 Net Profit (+)/ Loss (-) from Ordinarv Activities after tax (10-11)
	13 Extraordinarv items (net of tax expense)		0		0		0			0
14		Net Profit(+)/ Loss(-) for the period 112-131		20470		34610		17385			103905
											677779		677779		405267			677779
	15 Paid-up Eauity Share Capital (Face Value Rs.10/-l
	16			Reserves excluding Revaluation Reserve					631290								631290
				(as per Balance Sheet of orevious accountina year)
17			Analytical Ratios
					(i) Percentage of shares held bv Government of India		98.25		98.25		97.07			98.25
					(ii) Capital Adequacy Ratio (Basel Ill)		16.79		18.54		17.62			18.54
						a) CET 1 Ratio			13.08		12.77		12.38			12.77
						bl Additional Tier 1 Ratio			0.00		2.03		1.96			2.03

1. Earninqs per share (of Rs.10/- each) (Not Annualised) (Rs.)
2. 1. Basic and diluted EPS before Extraordinary items (net of tax

	expense) for the period, for the year to date and for the previous year	0.30	0.85	0.43	2.56
	(not annualized)
	(b) Basic and diluted EPS after Extraordinary items for the period, for		0.30	0.85	0.43	2.56
	the year to date and for the previous year (not annualized)
(iv) (a) Amount of Gross Non Performina Assets	824374	856482	905496	856482
	(b) Amount of Net Non Performinq Assets		169160	174227	220670	174227
(c) % of Gross NPAs	11.34	12.17	13.33	12.17
(d) % of Net NPAs	2.56	2.74	3.61	2.74
(v) Return on Assets (Annualised)	0.64	1.10	0.59	0.85
(vi) Outstandina redeemable Preference shares (auantitv and value)	Nil	Nil	Nil	Nil
(vii) Capital redemption reserve /debenture redemption reserve	NA	NA	N.A.	N.A.
(viii) Net worth	522631*	505190*	546180	505190*
(ix)	Paid up Debt Capital/Outstandinq Debt**	134272	135558	228919	135558
(x)	Debt Equity Ratio (Borrowinqs/Net worth)**	0.26	0.27	0.42	0.27
(xi)	Total Debts to Total Assets (Borrowinqs/Total Assets)**	0.01	0.01	0.02	0.01
(xii)	Operatinq Margin % (Operating Profit/Total Income)	13.15	15.81	18.90	16.51

		Reviewed Financial Results for the Quarter ended 30th June, 2022
SI.		QUARTER ENDED		YEAR
Particulars	30.06.2022	31.03.2022	30.06.2021	ENDED
No.
31.03.2022
			Reviewed	Audited	Reviewed
	!xiii)	Net Profit MarQin % (Net Profit after tax/Total Income)	Audited
	10.69
	17.24	8.66	12.90

18 Public Shareholding:

No. of Shares	118735354	118735354	118735354	118735354
Percentaae of Shareholdina	1.75	1.75	2.93	1.75

19 Promoters and promoter Qroup Share holdina

(a) Pledaed/ Encumbered

Number of shares

Nil

Nil

Nil

Nil

Percentage of Shares (as a % of the total shareholding of promoter

and oromoter aroup)

Nil

Nil

Nil

Nil

Percentaae of Shares (as a % of the total share capital of the Bank)

Nil

Nil

Nil

Nil

(b) Non-encumbered

Number of shares

6659051093

6659051093

3933932610

6659051093

Percentage of Shares (as a % of the total shareholding of promoter

and promoter Qroup)

100.00

100.00

100.00

100.00

Percentaae of Shares (as a % of the total share capital of the Bank)

98.25

98.25

97.07

98.25

*After

considering the impact of valuing the Non-Interest bearing Recap1tal1zat1on Bonds at Fair Value

**Total debts represents total borrowings of the Bank. Borrowings represent debts due for more than one year

Segment Reporting:

A: BUSINESS SEGMENT:

For the purpose ofsegment reporting in terms of AS-17 of ICAI and as prescribed in RBI guidelines, the business of the Bank has been classified into four segments i.e. a) Treasury Operations b) Corporate/wholesale Banking, c) Retail Banking and d) Other Banking Operations. Segmental Revenue, Results, Assets & Liabilities in respect ofCorporate / Wholesale and Retail Banking segment have been bifurcated on the basis ofexposure to these segments. Assets and Liabilities, wherever directly related to segments have been accordingly allocated to segments and wherever not directly related have been allocated on the basis ofpro-rata segment revenue.

										(Rupees in Lacs)
Particulars		Quarter Ended						Year ended
30.06.2022	31.03.2022				30.06.2021		31.03.2022
	(Reviewed)	(Audited)			(Reviewed)		(Audited}
1. Segment Revenue
a) Treasurv	49435
54547			60800	236532
b) Corporate/Wholesale Bankino	81166		76123			84828	317963
c) Retail Bankina	60577	69540			54967	249331
d) Other Bankina Operations	369		580				235	1693
Total	191547	200790			200830	805519
2. Segment Result
a) Treasury	15258	20303			28828	101408
b) Corporate/Wholesale BankinQ	9364	12901			12410		47400
c) Retail Bankina	6990	11521			8042	37169
d) Other Bankina Operations	369	580			235	1693
Total	31981	45305			49515	187670
3. Unallocated Exoenses	6784	13556			11557	54661
4. Qperatina Profit	25197	31749			37958	133009
5. Provisions & Continoencies	-3023	-13156			4599	14340
6. Income Tax	7750	10295			15974	14764
7. Extra Ordinarv Items	0	0			0	0
8. Net Profit	20470	34610			17385	103905

	Reviewed Financial Results for the Quarter ended 30th June, 2022
									Quarter Ended
Particulars												Year ended
		30.06.2022			31.03.2022					30.06.2021	31.03.2022
					(Reviewed)		(Audited)		(Reviewed)			(Audited)
Other Information:
9. Segment Assets
a) Treasury			4413201			4286374		3639823	4286374
bl Corporate/Wholesale Banking			4414909			4198721		4444702	4198721
			3294969
c) Retail Bankinq					3292440		2880068	3292440
d) Other Banking Operations				0				0		0		0
e) Unallocated Assets				324623			329220		302028	329220
Total Assets				12447702
					12106755		11266621	12106755
10. Segment Liabilities
a) Treasury				4009538			3891183		3453702	3891183
b) Corporate/ Wholesale Banking				4011090			3811611		4217424	3811611
c) Retail Bankinq		2993588			2988887		2732797	2988887
d) Other Banking Operations				0		0		0	0
el Unallocated Liabilities		11957		14015		9011	14015
Total liabilities		11026173		10705696		10412934	10705696

B: GEOGRAPHIC SEGMENT:

Since the Bank does not have any overseas branch, reporting under Geographic Segment is not applicable.

STATEMENT OF ASSETS AND LIABILITIES AS ON 30th JUNE, 2022

							(Rs. in Lacs)
	Particulars		ASON,		ASON
				30.06.2022		31.03.2022
	CAPITAL & LIABILITIES
	Capital	677779		677779
	Reserves & Surplus	743750		723280
	Deposits	10153426		10213701
	Borrowings	665574		244363
	Other Liabilities	207173		247631
	Total	12447702		12106754
	ASSETS
	Cash & balance with Reserve Bank ofIndia	563289		613924
	Balance with banks & money at call and short notice		16727		14899
	Investments		4355901		4228087
	Advances	6623907		6362656
	Fixed Assets	155323		157744
	Other Assets	732555		729444
	Total	12447702		12106754

Reviewed Financial Results for the Quarter ended 30th June, 2022

NOTES FORMING PART OF THE REVIEWED FINANCIAL RESULTS OF THE BANK FOR THE QUARTER ENDED JUNE 30, 2022:

1. The above financial results have been reviewed by the Audit Committee ofBoard and approved by the Board ofDirectors of the Banlc in their respective meeting held on 01.08.2022. The same have been subjected to "Limited Review" by the Statutory Central Auditors ofthe Banlc and are in line with the guidelines issued by the Reserve Banlc ofIndia and as per the requirements of SEBI (Listing Obligations & Disclosures Requirement) Regulations, 2015 (as amended).
2. The above financial results for the quarter ended 30th June, 2022 have been prepared in accordance with Accounting Standard (AS) - 25 on Interim Financial Reporting issued by the Institute of Chartered Accountants of India (ICAI), following the same accounting policies and practices as those followed in the Annual Financial Statements for the year ended 31st March, 2022.
3. The financial results have been arrived at after considering provisions for Non-Performing Assets, Non-Performing Investments, Standard Assets (including Stress sector), Restructured Assets, provision for exposure to entities with Unhedged Foreign Currency exposure, Amortization ofpremium relating to Investment under 'Held to Maturity' category, Depreciation on Investments and on Fixed Assets, Employee Benefits, Income tax including Deferred Tax on the basis of extant guidelines issued by Reserve Bank ofIndia and applicable accounting standards issued by the Institute ofChartered Accountants ofIndia.
4. Provision for Depreciation on Fixed assets, Employee Benefits, Income Tax (Including Deferred Tax) and other usual and necessary provisions have been made on estimated basis, which are subject to adjustment, ifany at the year end.
5. The Government oflndia, vide the Taxation Laws (Amendment) Act, 2019, inserted section 115BAA in the Income Tax Act 1961 w.e.f. April 1, 2019. The Bank has evaluated the options available under section l15BAA ofthe Income Tax Act, 1961 and opted to continue to recognize the Taxes on Income for quarter ended 30th June, 2022 as per the earlier provisions.
6. As per the Reserve Bank ofIndia directions for initiating Insolvency Process- Provisioning Norms, vide letter No. DBR. No. BP:15199/21.04.048/2016-17dated June 23, 2017, and DBR.No.BP.1907/21.04.048/2017-18dated August 28, 2017, the bank is holding the provisioning of Rs 281.56 crore (30th June, 2021- Rs.281.77 crore) as against the balance outstanding of Rs.281.56 crore (30th June, 2021 - Rs.281.77 crore) as on 30th June, 2022 in respect of NPA borrowal accounts referred in aforesaid circular.
7. In accordance with the RBI Circular. No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 01, 2019 DOR.No.BP.BC.34/21.4.048/2019-20 dated February 11, 2020 and DOR.NO.BP.BC/4/21.04.048/2020-21 dated August 06, 2020 on "Micro, Small and Medium enterprises (MSMEs) sector-Restructuring ofAdvances", the details ofMSME restructured accounts from O1.01.2019 to 30.06.2022 are as under:

				(Rs. in Crore)
No. of Accounts Restructured			Amount as on 30.06.2022	Provision held
7052			423.55	46.71

8. In accordance with the RBI Cir. No. DOR.STR.REC.ll/2l.04.048/2021-22 dated 05.05.2021 on "Resolution Framework- 2.0: Resolution of Covid - 19 related stress of Individuals and Small Business", and RBI Cir. No. DOR.STR.REC.12/21.04.048/2021-22 dated 05.05.2021 on "Resolution Framework 2.0-ResolutionofCovid-19 related stress ofMicro, Small and Medium Enterprises (MSMEs)", the number ofborrower accounts where modification were sanctioned, implemented and the aggregate exposure to such borrowers are as under:-