Punjab & Sind Bank successfully conducted its Extraordinary General Meeting (EGM) on January 21, 2026, securing overwhelming shareholder approval for two critical corporate initiatives. The meeting, held through video conferencing from 11:00 AM to 11:45 AM, saw participation from 38 shareholders and was presided over by Managing Director and CEO Swarup Kumar Saha.

Key Resolutions Approved

Shareholders voted on two major agenda items, both of which received substantial support through a combination of remote e-voting and live voting during the meeting.

₹3000 Crore QIP Approval

The primary resolution sought approval to raise equity capital up to ₹3000.00 crore through Qualified Institutions Placement (QIP). The voting results demonstrated strong shareholder confidence:

This special resolution enables the bank to issue fresh equity shares with a face value of ₹10.00 each, including premium, through QIP as determined by the Board or its designated committee.

Director Appointment

The second resolution approved the appointment of Shri Jitendra Asati as Government of India nominee director, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

Meeting Proceedings and Governance

The EGM was conducted with proper regulatory compliance and transparency measures. Key attendees included:

• Swarup Kumar Saha - MD & CEO (Chairman)
• Ravi Mehra - Executive Director
• Shankar Lal Agarwal - Director
• R P Gupta - Director

The bank had published notices in Business Standard (Hindi and English editions) on December 24, 2025, and December 31, 2025, ensuring adequate shareholder communication. An addendum dated January 8, 2026, was published on January 9, 2026, adding the director appointment to the agenda.

E-Voting Process

The bank implemented a comprehensive voting mechanism to ensure maximum shareholder participation:

Remote E-Voting Details:

• Period: January 17, 2026 (10:00 AM) to January 20, 2026 (5:00 PM)
• Platform: Central Depository Services (India) Limited (CDSL)
• Cut-off Date: January 14, 2026
• Notice Recipients: 2,13,950 shareholders via email

M/s S N Ananthasubramanian & Co, Company Secretaries, served as scrutinizers to oversee both remote e-voting and live voting processes, ensuring fair and transparent procedures throughout.

Regulatory Compliance

The meeting was conducted in full compliance with SEBI (LODR) Regulations, 2015, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. All voting results were uploaded to the bank's website and stock exchange platforms (BSE and NSE) as required by regulatory guidelines.

The successful completion of this EGM positions Punjab & Sind Bank to proceed with its capital raising initiatives while strengthening its board composition with the new government nominee director appointment.

Punjab & Sind Bank reported strong financial results for the quarter ended December 31, 2025, demonstrating significant improvement across key performance metrics. The government-owned bank's net profit grew 19.15% year-on-year to ₹336.42 crore, up from ₹281.96 crore in the corresponding quarter of the previous year.

Financial Performance Highlights

The bank's operational efficiency improved substantially during the quarter. Operating profit increased by 22.75% to ₹594.00 crore, reflecting enhanced revenue generation and cost management. Total income from operations reached ₹3,549.27 crore compared to ₹3,269.37 crore in Q3FY25, marking an 8.55% year-on-year growth.

Asset Quality Improvement

The bank achieved significant improvement in asset quality parameters during the quarter. Gross Non-Performing Assets (NPA) declined by 123 basis points to 2.60%, while Net NPA decreased by 51 basis points to 0.74%. The Provision Coverage Ratio (PCR) strengthened to 92.23%, representing an improvement of 270 basis points year-on-year.

Business Growth Metrics

The bank demonstrated robust growth across various business segments. Total business growth reached 11.75%, while gross advances grew by 15.05%. Retail advances showed particularly strong performance with 19.58% growth, and MSME advances expanded by 22.94%, indicating the bank's focus on priority sector lending.

Nine-Month Performance

For the nine months ended December 31, 2025, the bank reported net profit of ₹900.10 crore, representing a 28.05% increase from ₹703.05 crore in the corresponding period last year. Total income for the nine-month period reached ₹10,301.94 crore compared to ₹9,213.25 crore in the previous year.

Capital Position

The bank maintained a strong capital position with Capital Risk-Adjusted Ratio (CRAR) at 16.83%, up 88 basis points from the previous year. The debt-equity ratio stood at 0.63, while paid-up equity share capital remained at ₹7,095.59 crore. Net worth increased to ₹11,663.80 crore from ₹9,234.41 crore in the corresponding quarter last year.

Earnings Per Share

Basic and diluted earnings per share for the quarter stood at ₹0.47, compared to ₹0.42 in Q3FY25. For the nine-month period, EPS reached ₹1.27 compared to ₹1.04 in the corresponding period last year.

The results were approved by the Board of Directors in their meeting held on January 17, 2026, and were published in leading financial newspapers including Financial Express, Business Standard, Business Line, and Jansatta on January 18, 2026.