Punjab & Sind Bank upgrades its FY23 guidance for NIMs, credit costs

S K Saha, managing director and chief executive of the bank, said the lender is trying to create an image of a niche bank

Punjab & Sind Bank (P&SB) has revised upwards its guidance for net interest margins (NIMs) to 2.95-3.0 per cent for FY23 from the earlier estimate of 2.90 per cent. This comes on the back of improved margins of 3.12 per cent for Q3 and growth prospects.

The Delhi-based public sector bank scaled down FY23 estimates for slippage ratio, the rate at which performing loan accounts become stressed assets, to 1.0 per cent from the earlier 1.5 per cent. Its Gross Non-Performing Assets (GNPAs) declined from 8.36 per cent in December 2022 from 14.44 per cent a year ago.

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