Punjab and Sind Bank declares Q2 results

The Punjab and Sind Bank has declared net loss of Rs 469 crore in Q2 ended on September 30, 2019 on account of higher provisioning. The loss for Q1 ending on June 30, 2019 was Rs 30 crore. The net loss for Half Year (HY) ending September 30, 2019 has reduced from Rs 507 crore to Rs 499 crore on YoY basis. The Return on Assets in Sep’19 HY stands at (-)0.91%. The Common Equity Tier-1 and Capital to Risk Weighted Assets Ratio (CRAR) has improved from 7.87% to 8.14% and from 11.35% to 11.68% on QoQ basis.