Punjab & Sind Bank to take call on Rs 300 cr QIP in fourth quarter: MD Saha
State-owned Punjab & Sind Bank would take a call on raising equity capital through qualified institutional placement (QIP) after taking into account third quarter numbers and pace of loan growth, the bank's managing director Swarup Kumar Saha said. As far as capital adequacy is concerned, the bank is well-capitalised at 15.68 per cent and it can easily take care of business growth this year, he told PTI in an interaction. However, he said, "There is a need to build some buffer on the equity side. So, we would plan a small amount of capital mobilisation either through equity or bonds, say Rs 250 crore or Rs 300 crore. "We will watch our third quarter performance and momentum of credit demand and based on that make a decision with regard to QIP or other means." The bank has redeemed Additional Tier 1 (AT1) bonds, he said, adding, now the bank would try other means including QIP, which is cost effective. The government of India's holding in the bank stood at 98.25 per cent at the end13-11-2022
