Punjab & Sind bank declares dividend

Nksagar-Sagar Media Inc: New Delhi

Punjab and Sind Bank,total business of bank soared to Rs,102555 Cr thus registering a growth of 25.23% on year to year basis operating & net profit surges, the bank bounced back with its stellar performance during 2010-11 on all parameters,the deposits registered a growth of 21.59%, credit increased by Rs,10093 Cr thus a growth of 30.83% and the total business scaled record high.The equity capital of the bank increased from Rs183.65Cr to Rs223.05Cr.Board of Directors have recommended the dividend of 20% on shares issued Dec 2011 thus rewarding its stakeholders on its growth.
On the expansion spree,47 New branches opened during the year out of which ten branches opened under financial inclusion plan with this the branch network of the bank enhanced to 965 as on 31.03.2011.Bank has its its current fiscal year plan to open another 110 branches and 150 ATM across the country.