Punjab&Sind Bank expects 3% growth in NIM
By Vaibhav Aggarwal
Dec 1, 2010
Print    Email    RSS   

Public sector lender, Punjab&Sind Bank plans to achieve a 3% rise in its net interest margin (NIM) this fiscal with its inital public offering (IPO) coming this month.

"There will be improvement in the NIM. We are aiming at three per cent for the whole year (2010-11)," Punjab & Sind Bank executive director P K Anand said.

Net interest margin refers to the difference in the interest earned by banks by way of advances and interest given out to depositors. It is an indicator of the level of operating margins of a bank.

Upto September 2010, the bank posted a NIM of 2.79% as compared to 2.32% in the same period one year back.

Talking about rise or fall in interest rates, Anand said that base rate of the bank has been reviewed to 8.45% and it is to be reviewed again in December.

The bank is coming up with its IPO this month. Speaking about it, Anand said that the proceeds of the IPO would be utilized by the bank for expansion purposes and funds generated would be used to maintain credit growth for the upcoming 2-3 years.

He said that the capital adequacy ratio of the bank would also be raised to 14% from the existing 13.1%.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Now, Do Banking on Social Media Sites
Which is better: personal loan or gold loan?
Plan for your retirement
Carnival of Indian Personal Finance Blogs # 7
Carnival of Indian Personal Finance Blogs # 9

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive