PUNJAB NATIONAL BANK

Punjab National Bank (PNB) has re-submitted its standalone and consolidated unaudited/reviewed financial results for the quarter and half-year ended September 30, 2026. This re-submission is in response to a communication from NSE and is in a machine-readable format. The bank has confirmed that there are no changes in the figures, disclosures, or any other information previously provided in the financial results. The filing is made under Regulation 30 and 51 of SEBI (LODR) Regulations, 2015.

Punjab National Bank (PNB) announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The bank reported a significant year-on-year increase in Net Profit of 12.8%, reaching ₹5,532 Crore in Q2 FY'27, up from ₹4,904 Crore in Q2 FY'26. Global Business grew by 11.9% YoY to ₹31,18,434 Crore, with Deposits up 9.9% to ₹17,77,240 Crore and Advances up 14.7% to ₹13,41,194 Crore. Asset quality improved, with GNPA ratio declining by 90 bps to 2.55% and NNPA ratio by 11 bps to 0.25%. The Provision Coverage Ratio improved to 97.32%. Net Interest Income for Q2 FY'27 grew by 10.8% YoY to ₹11,601 Crore. Business per employee and per branch also saw improvements.

Punjab National Bank's consolidated net profit (the primary basis, after the ₹357 Cr contribution from associates and ₹20 Cr minority deduction) rose 21.7% YoY and 10.5% QoQ to ₹5,898 Cr for Q2 FY27, with consolidated EPS at ₹5.13 against ₹4.46 a year ago and ₹5.06 last quarter. Consolidated revenue (interest earned) grew a slower 8.5% YoY and 5.0% QoQ to ₹35,267 Cr. Standalone bank-level PAT, a more conservative read of the core franchise, grew a narrower 12.8% YoY and 5.3% QoQ to ₹5,532 Cr (EPS ₹4.81) — the roughly 9-point gap to consolidated YoY growth is driven mainly by a 31% YoY jump in associates' profit (PNB Housing Finance, PNB MetLife, regional rural banks) to ₹357 Cr, which more than offset minority interest swinging from a net credit a year ago to a ₹20 Cr deduction this quarter. No PNB-specific street PAT estimate was available pre-print, but Motilal Oswal's October 5 PSU-bank sector preview had pegged sector PAT growth at ~27% YoY/~19% QoQ — PNB's actual growth trailed that pace on both counts, a modest miss against the broader sector trajectory rather than a company-specific estimate. The profit growth was overwhelmingly a provisioning story, not an operating one: consolidated provisions (other than tax) collapsed 88% YoY and 86% QoQ to just ₹75 Cr, as asset quality kept improving — gross NPA fell to 2.55% (from 3.45% a year ago and 2.78% last quarter) and net NPA to 0.25% (from 0.36% and 0.28%), bringing net NPA under the bank's own <0.3% FY27 target even as gross NPA sits just above the <2.5% ceiling management had guided to. Consolidated operating profit, by contrast, grew only 5.7% YoY and actually fell 1.4% QoQ to ₹7,564 Cr — operating expenses outpaced interest income, so net profit margin (on the pre-minority basis comparable across quarters) expanded to ~14.3% from 14.1% QoQ and 13.2% YoY, while operating margin (operating profit/interest earned) compressed to ~21.4% from 22.8% QoQ and 22.0% YoY. Standalone cost-to-income ran ~50.4% this quarter, essentially flat versus ~50.4% last quarter and still well above the 47-48% range management guided for by FY27-end — a target the bank has not yet begun closing in on. Against management's own July guidance, credit growth is running ahead of plan: standalone advances grew 15.6% YoY (consolidated +15.7%) versus the guided 12-13% RAM-led range, matching the ~15% YoY advances growth our pre-result preview flagged as the Street's base case; deposits grew ~9.9-10.0% YoY, also in line with the preview's ~10% expectation. That combination pushed the standalone credit-deposit ratio to 73.7%, up from 70.1% a year ago and 72.0% last quarter — the widening gap the preview explicitly flagged as the key swing risk ("can a widening credit-deposit gap... keep asset quality pristine") has materialised, though asset quality improved rather than deteriorated this quarter. Half-year consolidated PAT of ₹11,713 Cr is tracking comfortably toward management's FY27 net profit target of over ₹20,000 Cr. The quarter's other disclosed developments were largely non-financial: an October 7 RLLR hike to 8.35% supports NIM on the floating-rate book consistent with the repricing-tailwind thesis, an October 14 RBI penalty of ₹8.08 lakh for operational non-compliance is financially immaterial, and an October 2 provisional update showed global business up 11.95% YoY to ₹31.2 lakh Cr, corroborating the advances/deposits trend in the final numbers. No management press release or post-result commentary was available in this filing to cross-check tone against the "cautiously optimistic" outlook flagged after the July concall. Going into Q3, the trajectory to watch is whether operating profit growth can catch up to the pace of profit growth now being driven by provisions — NPA ratios have room to fall further toward the <2.5% gross NPA goal but can't indefinitely substitute for cost discipline, with the 47-48% cost-to-income target still 200+ basis points away heading into the back half of FY27.

Punjab National Bank (PNB) has disclosed penalties totaling ₹808,250 imposed by the Reserve Bank of India (RBI) for non-compliance with operational guidelines of Currency Chests. The penalties were levied on September 9 and 11, 2026, with individual amounts of ₹2,91,750, ₹1,33,800, ₹1,34,600, and ₹2,99,600. The bank stated that the matter is operational and the penalties were debited directly from its RBI account, identified during periodic reconciliation. PNB is enhancing its reporting systems to ensure timely identification of such deductions in the future. The impact on the bank's financial activities is limited to the penalty amounts.

Punjab National Bank (PNB) has announced that its Board of Directors will convene on October 16, 2026. The primary agenda item is the consideration and approval of the Unaudited/Reviewed Financial Results, both standalone and consolidated, for the quarter and half-year ending September 30, 2026. Concurrently, the trading window for PNB shares will remain closed from October 1, 2026, until October 18, 2026, in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Punjab National Bank (PNB) has submitted the profile of Shri Sushil Katara, who has been nominated as a Part-Time Non-Official Director on the Bank's Board. His appointment is effective from October 9, 2026. Shri Katara holds a Bachelor of Law (LL.B.) degree and has been practicing law before the District Courts and the High Court of Rajasthan since 2003. He is also involved with various social organizations, including Shree Govind Guru Seva Sansthan, Samiksha Seva Sansthan, and Jaan Hai To Jahan Hai Foundation. This submission is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Punjab National Bank (PNB) announced the nomination of Shri Sushil Katara as a Part-Time Non-Official Director on its Board. The nomination was made by the Department of Financial Services, Ministry of Finance, Government of India, effective from October 9th, 2026, for a term of three years or until further orders. Shri Katara has no inter se relationship with existing directors and is not debarred from holding such office. This appointment is in compliance with SEBI (LODR) Regulations, 2015.

Punjab National Bank (PNB) has announced a revision in its Repo Linked Lending Rate (RLLR) following an increase in the RBI's repo rate. Effective October 8, 2026, the RLLR will be 8.35%, up from 8.10%. The bank has clarified that its Marginal Cost of Lending Rate (MCLR) and Base Rate will remain unchanged. This adjustment is a direct consequence of the Reserve Bank of India's monetary policy action on October 7, 2026.

Punjab National Bank (PNB) has announced the closure of its trading window for all designated persons, their immediate relatives, and insiders. This closure is effective from October 1st, 2026, and will remain in effect until 48 hours after the declaration of the bank's financial results for the quarter ending September 30th, 2026. The specific date for the Board Meeting to consider these financial results will be communicated later.

Punjab National Bank (PNB) has released its provisional business figures for the half-year ended September 30, 2026. Global business reached ₹31,19,790 Crores (₹31.2 Lakh Crore), marking an 11.95% year-on-year growth. Domestic business also saw a significant increase of 10.75% YoY to ₹29,70,279 Crores (₹29.7 Lakh Crore). Global deposits grew by 9.90% YoY to ₹17,77,097 Crores (₹17.8 Lakh Crore), while global advances surged by 14.80% YoY to ₹13,42,693 Crores (₹13.4 Lakh Crore). The Global CD Ratio improved to 75.56%. These figures are provisional and subject to review by the bank's statutory central auditors.