Punjab & Sind Bank plans $1 billion MTN bond issue
Business
Punjab & Sind Bank is planning to raise up to $1 billion by issuing bonds under its foreign-currency Medium-Term Note (MTN) program.
The fundraising plan comes as the bank continues to expand its balance sheet, with advances growing faster than deposits in the quarter ended June 30.
Punjab & Sind Bank CASA 76.19%
The bank's total business jumped 15.33% over the past year, with loans growing even faster than deposits.
Its CASA ratio (a key measure of low-cost deposits) dipped a bit but still looks solid at 76.19%.
Meanwhile, the share price saw a slight drop.