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PSB Bank reported robust Q2 and half-year financial results. Total Business grew 12.19% YoY to ₹241,272 Cr, driven by a 15.97% rise in Gross Advances to ₹105,566 Cr. Net Profit for the quarter was ₹295 Cr, up 22.92% YoY, with half-year Net Profit reaching ₹564 Cr, a 33.97% increase. Total Deposits grew 9.42% to ₹135,706 Cr, notably supported by a 20.23% increase in RAM (Retail, Agri, MSME) advances.
The bank is strategically expanding its digital footprint through initiatives like UPI Lite, TAB Banking, and digital loan acquisition journeys for Housing, Vehicle, MSME, and KCC. New Zonal Offices and specialized branches are also being opened to enhance growth and control. Recent collaborations include MoUs for agri-infrastructure and street vendor incubation.
Asset quality showed significant improvement, with Gross NPA down to 2.92% and Net NPA to 0.83%. The Provision Coverage Ratio stands strong at 91.88%.
Management anticipates continued strong performance in FY'26, projecting 8-10% deposit growth and 15-16% advance growth. They aim for Gross NPA below 2.5% and Net NPA below 0.75%, targeting over ₹1,000 Cr in recoveries and upgradations.