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Punjab & Sind Bank Ltd. ( (IN:PSB) ) just unveiled an update.
Punjab & Sind Bank announced that Infomerics Ratings has reaffirmed its IVR AA/Stable rating on the bank’s Rs 237.30 crore Basel III-compliant Tier II bonds. The affirmation reflects the bank’s sovereign backing, adequate capitalisation, diversified loan portfolio, improved earnings and asset quality, offset by a moderate resource profile, smaller relative scale and geographically concentrated operations.
The stable outlook is underpinned by expectations of ongoing government support, growth in advances, a healthy resource profile, comfortable capital levels and sustained asset quality improvements. The rating on these highly complex Tier II instruments also factors in Basel III non-viability clauses, which can trigger principal write-down or equity conversion and are a key risk consideration for investors in the bank’s subordinated debt.
More about Punjab & Sind Bank Ltd.
Punjab & Sind Bank is a state-owned Indian commercial bank with its head office in New Delhi. It operates across multiple regions with a diversified loan book and focuses on lending to a broad customer base, supported by sovereign ownership from the Government of India and regulated under Basel III capital norms.
Average Trading Volume: 282,275
Technical Sentiment Signal: Sell
Current Market Cap: 185B INR
Find detailed analytics on PSB stock on TipRanks’ Stock Analysis page.