Punjab National Bank (PNB) investor relations material

Executive summary

• Net profit for Q3 FY26 reached ₹5,100 crore, up 13.1% YoY, with operating profit at ₹7,481 crore, up 13% YoY; return on assets at 1.06% and return on equity at 17.80%.

• Achieved steady progress in business growth, asset quality, profitability, and regulatory compliance, focusing on retail expansion and digital initiatives.

• Asset quality strengthened, with Gross NPA at 3.19% (down 90 bps YoY) and Net NPA at 0.32% (down 9 bps YoY).

• Opened 82 new branches in FY26 and plan to open 100 more in the next six months; digital journeys for all credit products launched.

Financial highlights

• Global gross business reached ₹28.92 trillion as of December 2025, up 9.5% YoY; global deposits at ₹16.60 trillion (up 8.5% YoY); global advances at ₹12.31 trillion (up 10.9% YoY).

• Net interest income for Q3 was ₹10,533 crore; total income for Q3 was ₹37,253 crore, up 7.2% YoY.

• Operating profit for Q3 was ₹7,481 crore, up 13% YoY; net profit for Q3 was ₹5,100 crore, up 13.13% YoY.

• Cost-to-income ratio improved to 51.91% in Q3 FY26 from 54.16% in Q3 FY25.

• Earnings per share (not annualized) for Q3 FY26 was ₹4.44; book value per share (tangible) rose to ₹101.89.

Outlook and guidance

• NIM for Q4 expected to remain at Q3 levels; full-year domestic NIM guidance at 2.70%, global NIM at 2.60%, assuming no further rate cuts.

• Credit growth guidance of 11-12% and deposit growth of 9-10% for FY26; both targets expected to be met.

• Gross NPA expected to remain below 3%, net NPA below 0.35% for FY26.

• Slippage ratio guidance below 1% for FY26; actual for nine months annualized at 0.56%.

• CASA share was slightly below guidance at 37.1% versus >38% target.