About
Punjab & Sind Bank (PSB) is headquartered in New Delhi. The public sector bank's 80.28% shares are held by the government. It runs a wide network of 1559 branches nationally out of which, 623 branches are in the Punjab state.
Listing and Revenue
PSB is listed on NSE.
| Revenue | ₹8,826.92 crore |
| Operating Income | ₹1,096.91 |
| Net Income | ₹-990.80 |
| Total Assets | ₹1,00,503.80 |
Products and Services
PSB offers various services for individuals, businesses, and farmers including savings account, loan, debit card, online banking, current account, and rural banking among others.
History
The bank was established by Sir Sunder Singh Majithia, Bhai Vir Singh, and Sardar Tarlochan Singh on 24 June 1908. The government of India nationalised the bank on 15 April 1980 in the second nationalisation wave.
Punjab & Sind Bank opened a banking branch in London in 1960s. The branch was later acquired by the Bank of Baroda in 1991. The acquisition was followed after under RBI directives after a Sethia fraud was unearthed in 1987.