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Punjab
& Sind Bank plans IPO
Our Banking Bureau
3 November 2001
 Hyderabad:
Punjab & Sind
Bank CMD N S Gujral told press persons at Hyderabad that the bank
is planning to launch an initial public offering (IPO) in the near
future.
The proposed size of the
IPO will be Rs 100 crore. The post-issue capital of the bank will
be Rs 450 crore, which will help in increasing the bank’s
business as also shore up its capital adequacy ratio. The present
capital adequacy ratio of the bank is at about 11.42 per cent,
which is well within the RBI’s stipulated norm.
Gujral also said bank has
a business target of Rs 75, 000 crore
by the year 2008. During this period, the bank  proposes
to lay emphasis on recovery, leading to reduction in percentage of
net non-performing assets to net advances.
Gujral was in Hyderabad
to attend the public sector banks’ CMD conference
at the Institute for Development
and Research in Banking Technology.
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