Punjab & Sind Bank was incorporated on June 24, 1908, as ‘The Punjab and Sind Bank Limited’, with its registered office at Hall Bazar, Amritsar, Punjab, India. The Bank was nationalized under the Bank Acquisition Act on April 15, 1980 and its name was changed to ‘Punjab & Sind Bank’.

Punjab & Sind Bank, which is a GoI undertaking, one of the six banks nationalized by the GoI in April 1980, and today, is one of 19 nationalized banks in India. In over 100 years of operation, the Bank has significantly grown its branch network with a presence predominantly in north India. As on October 31, 2010, its network comprised of 926 branches and 63 ATMs across India. The Bank also sponsors one regional rural bank, Sutlej Gramin Bank, in collaboration with the GoI and the state Government of Punjab. As on September 30, 2010, we had a total of 8,047 employees serving over 0.66 crore customers.

Business area of the Company:

Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.

The bank has various deposit products, such as current, savings and term deposits for its customers. In retail banking, bank provides loan and advances for housing, trade, automobiles, consumer durables, education and personal loans. It provides commercial banking products and services to corporate customers, including mid-sized and small businesses and government entities.

In corporate banking, its loan products include term loans to finance capital expenditure of assets across various industries as well as short-term loans, cash and export credit and other working capital financing and bill discounting facilities.

The bank also provides credit substitutes, such as letters of credit and guarantee. It also engages in syndication of loans provided by other financial institutions and other fee-based services such as cash management and remittance services.

In the priority sector, the banks offers direct financing to farmers for production, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs. It also offers a wide range of general banking services to our customers including ATM cards, cash management, remittance services and collection services.

Punjab& Sind Bank also distributes third-party products such as life and non-life insurance policies through corporate agency agreements with Aviva Life Insurance Company India Private Limited and Bajaj Allianz, respectively, and mutual funds with UTI AMC through a distribution agreement. It also acts as an agent for various state governments and the GoI on numerous matters including the collection of taxes and payment of salary and pension.
 

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Market Cap	14,640 Cr		EPS	1.7		High	22.4
Stock P/E	13.0		Net Profit Margin	NA		Low	20.3

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