Punjab & Sind Bank shareholders have approved the bank’s audited balance sheet and profit and loss account for the fiscal year ended March 31, 2026, alongside a dividend declaration of ₹0.39 per equity share for Financial Year 2025-26. The resolutions were passed with near-unanimous support during the bank’s 16th Annual General Meeting (AGM) held on July 28, 2026, via Video Conferencing/Other Audio Visual Means (OAVM). The high level of shareholder approval underscores strong confidence in the bank’s governance and financial reporting for the period.

The meeting was presided over by Swarup Kumar Saha, Managing Director and Chief Executive Officer, in accordance with Regulation 59 of the Punjab & Sind Bank (Shares & Meetings) Regulations, 2008. Saket Mehrotra, Company Secretary, submitted the proceedings to BSE Limited and the National Stock Exchange of India Ltd., pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The deemed venue for the meeting was the bank’s head office at 21, Rajendra Place, New Delhi.

Voting Results

Shareholders cast votes through remote e-voting from July 24 to July 27, 2026, and during the AGM on July 28, 2026. M/s S N Ananthasubramanian & Co, Company Secretaries, served as the Scrutinizer for the process. The consolidated voting results for both agenda items are detailed below:

A total of 332 shareholders participated in the voting process, comprising 318 via remote e-voting and 14 during the AGM. The cut-off date for determining voting entitlements was July 21, 2026. No shareholder other than the Central Government holds more than 10% of the total voting rights, meaning restrictions under Section 3(2E) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, were not applicable.

Dividend Details

The Board of Directors had recommended the dividend at its meeting on April 27, 2026. The dividend rate is ₹0.39 per Equity Share, representing 3.90% of the face value. Payments will be made to shareholders registered in the Register of Shareholders and the List of Beneficial Shareholders as received from depositories as of the record date, July 21, 2026. The bank committed to disbursing the dividend within 30 days from the date of the meeting.

What the Numbers Show

The overwhelming support for both resolutions—exceeding 99.9% assent—indicates minimal dissent among the bank’s retail and institutional investors regarding the FY25-26 financial performance and capital distribution policy. With only 26 dissenting votes on the accounts and 24 on the dividend out of over 677 crore total votes cast, the outcome reflects broad alignment between management’s reporting and shareholder expectations. The remote e-voting mechanism facilitated participation from 318 shareholders prior to the live meeting, ensuring wide accessibility for the government-owned entity.

Punjab & Sind Bank reported a net profit of ₹331 crore for the quarter ended June 30, 2026, marking a 23.05% increase from ₹269 crore in the corresponding period of the previous year. The growth was driven by a 15.33% rise in net interest income to ₹1,038 crore and improved asset quality, with Gross Non-Performing Assets (NPAs) falling to 2.21%. During the subsequent earnings call held on July 20, 2026, management clarified that the profitability expansion was operational rather than reliant on one-off treasury gains, signaling sustainable momentum despite subdued sequential credit growth.

The Board of Directors approved the reviewed unaudited financial results on July 18, 2026. The results were subjected to a limited review by the statutory auditors. Managing Director and Chief Executive Officer Swarup Kumar Saha emphasized that the bank’s operating profit remained stable at ₹545 crore, maintaining parity with Q4 FY26 and Q1 FY26, even as treasury income and recoveries from written-off accounts fluctuated.

Strategic Focus on RAM and Digital Growth

Management highlighted a strategic shift towards Retail, Agri, and MSME (RAM) segments, which now constitute 60% of the total advance book. The bank aims to increase this share to 64-65% by the end of FY27. Credit growth in the RAM segments was robust: Retail advances grew by 36%, Agri by over 25%, and MSME by over 32%.

Digital initiatives are accelerating this transition. The bank has introduced Straight Through Processing (STP) journeys for key products including home loans (up to ₹2 crore), commercial vehicles (up to ₹50 lakh), and personal loans. Executive Director Ravi Mehra noted that 62% of vehicle loans and 53% of home loans are now sourced digitally. Additionally, the bank is launching digital gold loans and CBDC facilities shortly.

Proactive Provisioning and Asset Quality

A significant portion of the quarter’s expense was attributed to proactive provisioning. CFO Arnab Goswamy and MD Swarup Kumar Saha explained that the bank set aside approximately ₹150 crore for Expected Credit Losses (ECL) ahead of regulatory implementation in April 2027. This prudent measure improved the Provision Coverage Ratio to 92.33%. Slippages were contained at ₹207 crore, with a slippage ratio of 0.18%. The bank aims to keep annual slippages below ₹600 crore, down from ₹677 crore in the previous year.

Forward Guidance and Operational Efficiency

The bank reaffirmed its full-year guidance, targeting deposit growth of 13-14% and advance growth of 16-18%, though management indicated potential for 18-20% credit growth given an undisbursed pipeline of ₹15,000 crore. Key financial targets for FY27 include:

• Net Interest Margin (NIM): 2.60% to 2.65%
• Return on Assets (ROA): 0.85% to 0.90%
• Return on Equity (ROE): ~12%
• Cost-to-Income Ratio: Below 60%

Core fee income grew by 13.89%, with a target of ₹900-1,000 crore for the current year. The bank is also expanding its physical presence, planning to open a branch in GIFT City by November 2026 and aiming to reach 2,000 branches by FY29. While FCNR(B) deposits are expected to contribute modestly ($20-25 million) due to the lack of overseas branches, the bank anticipates mobilizing around $100 million through combined FCNR(B) deposits and external borrowings.