Punjab & Sind Bank recently announced reaffirmations from CARE Ratings regarding its Tier II Bond Series XIV of Rs 500 crore, Tier II Bond Series XV of Rs 237.30 crore, and Tier II Bond Series XVI of Rs 500 crore, all maintaining a rating of CARE AA; Stable. Additionally, CARE Ratings reaffirmed the ratings on the bank's Tier-II Bonds & SEBI instruments totaling Rs 500.00 and Rs 237.30, also at CARE AA; Stable, while noting that recapitalization bonds totaling Rs 10,100 crore will be fair valued in FY25. Other instruments, including recapitalization bonds with infusions in FY18 (Rs 785 crore), FY20 (Rs 787 crore), FY21 (Rs 5,500 crore), and FY22 (Rs 4,600 crore), along with equity shares approved for a Qualified Institutional Placement (QIP) of Rs 3,000 crore and a previous QIP of Rs 1,219 crore, remain unrated, although the bank has board approval for the issuance of Tier -II / Tier -I Bonds totaling Rs 2,000 crore. CareEdge Ratings highlighted concerns regarding profitability, CASA deposits, and net stressed assets, while also noting an expected recovery in Net Interest Margin (NIM) and advances growth.