Annual Report 2010-2011 of Punjab and Sind Bank

It is a broadly described annual report of Punjab & Sind Bank in the year of 2010-2011. During the financial year, The Bank’s total gross Business increase of 25.23% at Rs. 1,02,556 Crore as compared to Rs. 81,894 Crore as on 31^st March 2010. The total deposit of the Bank registered a growth of 21.50% with the Net accretion of Rs. 10,568 Crore to reach Rs. 59,723 Crore as on 31^st March 2011 from Rs. 49,155 Crore as on 31^st March 2010. Operating profit of the Bank increased by 15.49% at Rs. 1013.50 Crore in comparison to Rs. 877.57 Crore in 2009-10. The Bank has posted 3.41% growth in Net Profit to Rs. 526.17 Crore from Rs. 508.80 Crore during 2009-10.

During the year the Bank issued 4,00,00,000 equity shares of Rs. 10/- each for cash at a price of Rs. 120/- by way of Book Building process. The paid-up Capital of the Bank during the year to Rs. 423.06 Crore. The Net Worth of the Bank has improved from Rs. 2128.23 Crore as on 31^st March 2010 to Rs. 3048.83 Crore as on 31^st March 2011.

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