Punjab & Sind Bank has an equity investment in India SME Asset Reconstruction Company and the company did not declared a dividend for the FY2020-21. The sale of stake is expected to be completed by Q3 FY2022-23.
Punjab & Sind Bank reported net profit of Rs 300.82 crore in Q3 December 2021 as against net loss of Rs 2375.53 crore in Q3 December 2020. Total income rose 3.46% to Rs 2,042.03 crore in Q3 December 2021 over Q3 December 2020.
Punjab & Sind Bank is a public sector bank. The Government of India held 97.07% stake in the bank as of 31 December 2021.
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