Punjab & Sind Bank

Punjab & Sind Bank's capital adequacy ratio fell 2.84% to 10.9% in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank's capital adequacy ratio reached 10.9% at the end of 2018, down from 11.3% compared to the previous year. ...

Punjab & Sind Bank's net interest margin fell 3.66% to 2.05% in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank's net interest margin amounted to 2.05% in 2018, down from 2.12% compared to the previous year. His...

Punjab & Sind Bank's net interest income rose 1.99% to INR 22.8 bil in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank generated total banking revenues of INR 31.1 bil in 2018, up 10.4% compared to the previous year. ...

Profit Statement 2016 2017 2018
Net Interest Income INR bil 21.6 22.4 22.8
Net Fee Income INR bil 0.899 0.835 0.948
Other Income INR bil 4.88 4.98 7.33
Total Revenues INR bil 27.4 28.2 31.1
Operating Profit INR bil 12.4 11.4 14.0
Provisions INR bil 10.4 17.4 22.6
Net Profit INR bil 2.01 -7.44 -5.43
Balance Sheet 2016 2017 2018
Interbank Loans INR bil 2.25 8.76 16.8
Customer Loans INR bil 583 666 692
Debt Securities INR bil 279 330 262
Total Assets INR bil 966 1,138 1,090
Shareholders' Equity INR bil 61.4 61.8 57.0
Interbank Borrowing INR bil 2.32 7.50 0
Customer Deposits INR bil 855 1,017 986
Issued Debt Securities INR bil 29.6 29.3 27.1
Ratios 2016 2017 2018
ROE % 3.32 -12.1 -9.15
ROA % 0.202 -0.707 -0.488
Costs (As % Of Assets) % 1.50 1.59 1.54
Costs (As % Of Income) % 54.6 59.4 55.1
Capital Adequacy Ratio % 11.1 11.3 10.9
Net Interest Margin % 2.17 2.12 2.05
Loans (As % Of Deposits) % 68.2 65.4 70.2
NPLs (As % Of Loans) % 10.5 11.7 12.4
Provisions (As % Of NPLs) % 29.9 ... ...
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 324 312 253
Share Price (End Of Period) INR 55.0 49.4 31.3
Price/Earnings (P/E) 11.0 ... ...
Price/Book Value (P/BV) 0.359 0.322 0.310
Dividend Yield % 0 0 0
Earnings Per Share (EPS) INR 5.02 -18.5 -9.62
Book Value Per Share INR 153 154 101
Dividend Per Share INR 0 0 0

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                            
Net Interest Income INR bil               16.4 16.2 16.8 21.8 21.6    
Total Revenues INR bil               20.4 20.5 21.2 26.2 27.4    
Operating Profit INR bil               7.42 7.57 6.48 12.7 12.4    
Net Profit INR bil               3.39 3.01 1.21 3.36 2.01    
balance sheet                            
Interbank Loans INR bil               8.77 18.2 7.63 14.3 2.25    
Customer Loans INR bil               514 569 636 636 583    
Debt Securities INR bil               225 283 268 276 279    
Total Assets INR bil               805 945 978 1,026 966    
Shareholders' Equity INR bil               46.0 50.1 56.0 59.7 61.4    
Interbank Borrowing INR bil               2.38 7.87 70.1 59.1 2.32    
Customer Deposits INR bil               650 779 817 871 855    
Issued Debt Securities INR bil               25.4 16.9 13.3 13.4 29.6    
ratios                            
ROE %               7.66 6.25 2.29 5.81 3.32    
ROA %               0.442 0.344 0.126 0.335 0.202    
Costs (As % Of Assets) %               1.69 1.48 1.53 1.35 1.50    
Costs (As % Of Income) %               63.5 63.1 69.4 51.7 54.6    
Capital Adequacy Ratio % ... ... ... ... ...     12.9 11.0 11.2 11.8 11.1    
Net Interest Margin %               2.14 1.85 1.75 2.17 2.17    
Interest Income (As % Of Revenues) %               80.6 79.1 79.2 83.0 78.9    
Fee Income (As % Of Revenues) %               3.92 3.64 3.60 3.09 3.28    
Equity (As % Of Assets) %               5.72 5.30 5.72 5.82 6.36    
Loans (As % Of Deposits) %               79.0 73.0 77.9 73.0 68.2    
Loans (As % Assets) %               63.8 60.2 65.0 62.0 60.4    
NPLs (As % Of Loans) %               2.97 4.44 4.79 6.52 10.5    
Provisions (As % Of NPLs) %       ...       26.8 24.2 25.7 30.0 29.9 ... ...
valuation                            
Market Capitalisation (End Of Period) USD mil ... ... ... ...       270 201 290 209 324    
Number Of Shares (Average) mil ... ... ... ...       235 260 338 400 400    
Share Price (End Of Period) INR ... ... ... ...       62.9 47.9 54.1 34.6 55.0    
Earnings Per Share (EPS) INR ... ... ... ...       14.4 11.6 3.59 8.39 5.02    
Book Value Per Share INR ... ... ... ...       196 193 166 149 153    
Dividend Per Share INR ... ... ... ...       2.89 2.33 0.711 1.65 0    
Price/Earnings (P/E) ... ... ... ...       4.36 4.14 15.1 4.12 11.0 ... ...
Price/Book Value (P/BV) ... ... ... ...       0.321 0.248 0.327 0.232 0.359    
Dividend Yield % ... ... ... ... ...     4.60 4.87 1.31 4.77 0    
Earnings Per Share Growth % ... ... ... ... ...     -28.7 -19.7 -69.0 134 -40.1    
Book Value Per Share Growth % ... ... ... ... ...     2.79 -1.38 -14.2 -9.94 2.89    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                            
Interest Income INR bil               73.4 79.7 85.9 87.4 81.7    
Interest Cost INR bil               57.0 63.5 69.1 65.7 60.1    
Net Interest Income INR bil               16.4 16.2 16.8 21.8 21.6    
Net Fee Income INR bil               0.798 0.745 0.764 0.810 0.899    
Other Income INR bil               3.14 3.53 3.65 3.65 4.88    
Total Revenues INR bil               20.4 20.5 21.2 26.2 27.4    
Operating Cost INR bil               12.9 12.9 14.7 13.6 15.0    
Operating Profit INR bil               7.42 7.57 6.48 12.7 12.4    
Provisions INR bil               2.56 5.13 5.00 7.67 10.4    
Extra and Other Cost INR bil               -0.001 -0.002 < -0.001 < -0.001 0    
Pre-Tax Profit INR bil               4.87 2.44 1.48 4.98 2.01    
Tax INR bil               1.47 -0.568 0.268 1.62 0    
Minorities INR bil               0 0 0 0 0    
Net Profit INR bil               3.39 3.01 1.21 3.36 2.01    
Dividends INR bil               0.681 0.606 0.240 0.661 0    
growth rates                            
Net Interest Income Growth % ...             9.32 -1.25 3.62 29.6 -0.756    
Net Fee Income Growth % ...             6.90 -6.61 2.50 6.04 10.9    
Total Revenue Growth % ...             6.08 0.619 3.55 23.6 4.41    
Operating Cost Growth % ...             5.04 -0.160 14.0 -7.87 10.3    
Operating Profit Growth % ...             7.95 1.98 -14.3 95.2 -1.88    
Pre-Tax Profit Growth % ...             -20.8 -49.9 -39.3 236 -59.7    
Net Profit Growth % ...             -24.8 -11.4 -59.6 177 -40.1    
market share                            
Market Share in Revenues % ... ... ... ... ... ...   0.862 0.759 0.698 0.778 0.681   ...
Market Share in Net Profit % ... ... ... ... ... ...   0.573 0.558 0.222 0.817 ... ... ...
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                            
Cash INR bil               32.5 48.3 37.6 38.2 43.6    
Interbank Loans INR bil               8.77 18.2 7.63 14.3 2.25    
Customer Loans INR bil               514 569 636 636 583    
Debt Securities INR bil               225 283 268 276 279    
Fixed Assets INR bil               8.44 10.0 9.95 11.3 11.0    
Total Assets INR bil               805 945 978 1,026 966    
Shareholders' Equity INR bil               46.0 50.1 56.0 59.7 61.4    
Of Which Minority Interest INR bil               0 0 0 0 0    
Liabilities INR bil               759 895 922 966 905    
Interbank Borrowing INR bil               2.38 7.87 70.1 59.1 2.32    
Customer Deposits INR bil               650 779 817 871 855    
Sight Deposits INR bil               35.1 43.4 47.6 49.8 44.9    
Term Deposits INR bil               615 736 769 821 811    
Issued Debt Securities INR bil               25.4 16.9 13.3 13.4 29.6    
Other Liabilities INR bil               80.6 90.9 21.6 22.8 17.7    
asset quality                            
Non-Performing Loans INR bil               15.4 25.5 30.8 42.3 63.0    
Gross Loans INR bil               518 575 644 648 602    
Total Provisions INR bil       ...       4.13 6.19 7.92 12.7 18.8 ... ...
growth rates                            
Customer Loan Growth % ...             13.1 10.8 11.7 -0.007 -8.23    
Total Asset Growth % ...             10.4 17.4 3.43 4.94 -5.79    
Shareholders' Equity Growth % ...             8.36 8.84 11.7 6.68 2.89    
Customer Deposit Growth % ...             11.5 19.8 4.77 6.65 -1.77    
market share                            
Market Share in Customer Loans %               0.930 0.886 0.896 0.797 0.707   ...
Market Share in Total Assets %               0.927 0.934 0.878 0.813 0.680   ...
Market Share in Customer Deposits %               1.03 1.08 1.00 0.953 0.804   ...
ratios Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                            
ROE %               7.66 6.25 2.29 5.81 3.32    
ROA %               0.442 0.344 0.126 0.335 0.202    
Costs (As % Of Assets) %               1.69 1.48 1.53 1.35 1.50    
Costs (As % Of Income) %               63.5 63.1 69.4 51.7 54.6    
Capital Adequacy Ratio % ... ... ... ... ...     12.9 11.0 11.2 11.8 11.1    
Tier 1 Ratio % ...     ... ...     ... 7.62 8.48 9.29 9.14    
Net Interest Margin %               2.14 1.85 1.75 2.17 2.17    
Interest Spread % ...             1.68 1.43 1.33 1.77 1.78    
Asset Yield %               9.57 9.11 8.93 8.73 8.20    
Cost Of Liabilities % ...             7.89 7.68 7.61 6.96 6.43    
Payout Ratio %               20.1 20.1 19.8 19.7 0    
Interest Income (As % Of Revenues) %               80.6 79.1 79.2 83.0 78.9    
Fee Income (As % Of Revenues) %               3.92 3.64 3.60 3.09 3.28    
Other Income (As % Of Revenues) %               15.4 17.2 17.2 13.9 17.8    
Equity (As % Of Assets) %               5.72 5.30 5.72 5.82 6.36    
Loans (As % Of Deposits) %               79.0 73.0 77.9 73.0 68.2    
Loans (As % Assets) %               63.8 60.2 65.0 62.0 60.4    
NPLs (As % Of Loans) %               2.97 4.44 4.79 6.52 10.5    
Provisions (As % Of NPLs) %       ...       26.8 24.2 25.7 30.0 29.9 ... ...
Provisions (As % Of Loans) %       ...       0.803 1.09 1.25 1.99 3.23 ... ...
Cost of Provisions (As % Of Loans) %               0.528 0.947 0.830 1.21 1.71    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                            
Employees               8,533 8,870 9,180 9,403 9,400    
Sight (As % Of Customer Deposits) %               5.40 5.57 5.82 5.72 5.25    

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Punjab & Sind Bank's customer loan growth fell 72.3% to 3.91% in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank's customer loan growth reached 3.91% in 2018, down from 14.1% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 147% in 2009 and an all time low of -28.8% in 2008. In the last decade, t...

Punjab & Sind Bank's total revenues rose 10.4% to INR 28.2 bil in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank generated total banking revenues of INR 28.2 bil in 2017, up 2.88% compared to the previous year. Indian banking sector banking sector generated total revenues of INR 4,320,359 mil in 2017, up 7.41% when compared to the last yea...

Punjab & Sind Bank's customer deposits fell 3.11% to INR 1,017 bil in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank's customer deposits reached INR 1,017 bil in 2017, up 18.9% compared to the previous year. Indian banking sector accepted customer deposits of INR 110,303 bil in 2017, up 3.61% when compared to the last year. Punjab & Sind Bank ...

Punjab & Sind Bank's customer loans rose 3.91% to INR 666 bil in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank's customer loans reached INR 666 bil in 2017, up 14.1% compared to the previous year. Indian banking sector provided customer loans of INR 88,362 bil in 2017, up 7.04% when compared to the last year. Punjab & Sind Bank accounted...

Punjab & Sind Bank's npls (as % of loans) rose 6.15% to 10.5% in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank's non-performing loans reached 10.5% of total loans at the end of 2016, up from 6.52% compared to the previous year. Historically, the NPL ratio hit an all time high of 10.5% in 2016 and an all time low of 0.736% in 2007. Provision co...

Punjab & Sind Bank's price/earnings (P/E) rose 166% to 11.0 in 2016

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank stock traded at INR 55.0 per share at the end 2016 implying a market capitalization of USD 324 mil. Since the end of 2011, the stock has depreciated by -30.1 % implying an annual average growth of -6.91 %. In absolute terms, the value of the com...

Punjab & Sind Bank's share price (end of period) fell 36.8% to INR 55.0 in 2018

By Helgi Analytics - November 2, 2019

Punjab & Sind Bank stock traded at INR 55.0 per share at the end of 2016 implying a market capitalization of USD 324 mil. Since the end of 2011, the stock has depreciated by -30.1 % implying an annual average growth of -6.91 %. In absolute terms, the value of the ...

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Punjab & Sind Bank Logo

Finance

Punjab & Sind Bank has been growing its revenues and asset by 8.15% and 13.6% a year on average in the last 10 years. Its loans and deposits have grown by 18.1% and 11.8% a year during that time and loans to deposits ratio reached 70.2% at the end of 2018. The company achieved an average return on equity of 5.31% in the last decade with net profit growing nan% a year on average. In terms of operating efficiency, its cost to income ratio reached 55.1% in 2018, compared to 57.5% average in the last decade.

Equity represented 5.23% of total assets or 8.24% of loans at the end of 2018. Punjab & Sind Bank's non-performing loans were 12.4% of total loans while provisions covered some of NPLs at the end of 2018.

Valuation

Punjab & Sind Bank stock traded at INR 31.3 per share at the end of 2018 resulting in a market capitalization of USD 253 mil. Over the previous five years, stock price fell by 34.8% or 8.19% a year on average. That’s compared to an average ROE of -1.96% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of x and price to book value (PBV) of 0.310x in 2018.