India's Punjab & Sind Bank rises on strong quarterly loan growth

Punjab & Sind Bank

04/01/2023 05:00

** Shares of Punjab & Sind Bank  PUNA.NS  rise as much as
4.5% to 33.85 rupees, highest since Dec. 28
    ** Bank's provisional report for the December quarter showed
17% YoY jump in gross advances to 780.49 billion rupees ($9.42
billion)
    ** Total business at 1.88 trillion rupees, up 12.26% YoY
        ** Total deposits rose 9.11% YoY to 1.09 trillion rupees
    ** More than 3.6 mln shares change hands by 10:15 a.m. IST
vs 30-day avg of 15.3 mln shares
    ** Stock rose ~109% last year
($1 = 82.8450 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))