Punjab & Sind Bank has notified the stock exchanges of a strike notice received from the All India PSB Officers Union (Regd.), affiliated to AIBOC & AINBOF, proposing an All India Strike on May 8, 2026. The disclosure, filed on May 7, 2026, was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Strike Notice Details

The bank received the strike notice dated April 21, 2026, served by the All India PSB Officers Union (Regd.). The union has proposed an All India Strike on May 8, 2026, which could potentially impact the functioning of the bank's branches and offices across the country.

Key details of the regulatory disclosure are summarised below:

Potential Impact on Operations

Punjab & Sind Bank has acknowledged that in the event the strike materialises, the functioning of its branches and offices may be affected. The bank has stated that it is taking necessary steps to ensure smooth functioning on the day of the strike, though the extent of any disruption would depend on the actual participation in the strike action.

Regulatory Disclosure

The notice was submitted to both BSE Limited and the National Stock Exchange of India Ltd. in accordance with the applicable regulatory framework. The filing was signed by Saket Mehrotra, Company Secretary of Punjab & Sind Bank, on May 7, 2026.

Punjab & Sind Bank reported its highest-ever annual net profit of ₹1,322 crore for the financial year ended March 31, 2026, marking a growth of 30.12% year-on-year. The bank's management shared these results during an earnings conference call held on April 28, 2026. The total business reached ₹2,63,652 crore in FY26, described by management as a historic growth of 14.94%.

Record Financial Performance in FY26

Gross Advances grew at 18.29%—surpassing the bank's own guidance of 15% to 16%—while deposits recorded a robust growth of 12.37%. Retail term deposits grew at 19.58%, and CASA grew at over 10%. The operating profit for the year grew by 5.16% to stand at ₹2,182 crore. Net Interest Income (NII) grew by 0.74% to ₹3,812 crore; however, management noted that excluding a one-off interest income of over ₹200 crore in Q4 of the previous year, NII growth would have been above 8%.

Asset Quality and RAM Segment Performance

Asset quality showed consistent improvement across the year. Gross NPA declined from 3.38% to 2.40%, and Net NPA fell from 0.96% to 0.79%. The Provision Coverage Ratio (PCR) stood at 90.91%. Recovery and upgradation for the year stood at nearly ₹1,500 crore, while slippages reduced from ₹801 crore to ₹678 crore over the year. The RAM (Retail, Agriculture, MSME) segment now constitutes nearly 59% of total advances, with retail growing over 24%, agriculture over 23%, and MSME over 29%.

Strategic Initiatives and Future Guidance

The bank provided guidance for FY27, targeting deposit growth of 13% to 14% and advances growth of 16% to 18%. Management aims to cross ₹3,00,000 crore in total business in the current financial year and has a board-approved target of ₹4,00,000 crore by FY29. The bank received RBI approval for a GIFT City branch, targeted for launch by October 2026. Regarding the RBI's new ECL framework, the Chief Risk Officer indicated the estimated impact is expected to be in the range of ₹600 crore to ₹800 crore, absorbable through the capital buffer over a five-year glide path ending in 2031.