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Informist, Monday, Jan. 19, 2026

 

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--PNB Oct-Dec net profit INR 51.00 bln
--Analysts saw PNB Oct-Dec net profit at INR 49.54 bln
--PNB Oct-Dec net profit INR 51.00 bln vs INR 45.08 bln year ago
--PNB Oct-Dec total income INR 372.53 bln vs INR 347.52 bln year ago
--PNB Oct-Dec provisions INR 11.50 bln vs reversed INR 2.85 bln year ago
--PNB Oct-Dec NPA provisions INR 13.41 bln vs INR 3.18 bln year ago
--PNB gross NPA ratio 3.19% as on Dec 31 vs 3.45% qtr ago, 4.09% year ago
--PNB net NPA ratio 0.32% as on Dec 31 vs 0.36% qtr ago, 0.41% year ago
--PNB shares fall to INR 128.06, down INR 4.30 or 3.3% vs up 1.8?rlier
--PNB Apr-Dec net profit INR 116.79 bln vs INR 120.63 bln year ago
--PNB Apr-Dec total income INR 1.11 tln vs INR 1.01 tln year ago
--PNB: Made floating provision of INR 9.55 bln in Oct-Dec
--PNB: Hold additional provision of INR 21.06 bln as on Dec 31
--PNB: Provision Coverage Ratio at 96.99% as on Dec 31
--PNB Oct-Dec net interest income INR 105.33 bln vs INR 110.32 bln year ago
--PNB Oct-Dec annualised global net interest margin 2.52% vs 2.60% qtr ago
--PNB Oct-Dec annualised global cost of deposit 5.09% vs 5.18% quarter ago
--PNB Oct-Dec annualised global yield of advances 7.69% vs 7.90% qtr ago
--PNB Oct-Dec fresh slippages INR 18.24 bln vs INR 18.12 bln qtr ago
--PNB Oct-Dec cash recoveries INR 10.54 bln vs INR 11.25 bln qtr ago
--PNB Oct-Dec upgrades INR 6.39 bln vs INR 15.91 bln qtr ago
--PNB Oct-Dec loan write-offs INR 12.37 bln vs INR 15.68 bln qtr ago

 

By Nandini Sinha

 

MUMBAI - Punjab National Bank posted a robust increase in its standalone net profit for the December quarter, exceeding street expectations. This was mainly on back of a one-time income from the sale of the bank's 10% stake in Canara HSBC Life Insurance Co. Ltd. In October, Punjab National Bank sold 10% stake in Canara HSBC Life Insurance through an offer for sale in the company's initial public offer. After the stake sale, the country's second-largest public sector bank now holds 13% stake in Canara HSBC Life Insurance.

 

During the reporting quarter PNB's net profit rose to INR 51 billion from INR 45.08 billion in the same quarter a year ago, up 13%. Sequentially, it rose 4%. The net profit rose due to a sharp 47% rise in the bank's other income. This comes despite a fall in the public sector bank's net interest income.

 

PNB's net interest income fell nearly 5% on year to INR 105.33 billion from INR 110.32 billion, below street expectations of INR 109.66 billion. It rose nearly 1% on quarter. PNB's annualised global net interest margin fell 41 basis points on year to 2.52%.

The bank's operating profit increased 13% on year to INR 74.81 billion from INR 66.21 billion. PNB's total income rose more than 7% on year to INR 372.53 billion from INR 347.52 billion. It rose nearly 3% sequentially from INR 362.14 billion.

 

Its write-offs fell nearly 27% sequentially to INR 12.37 billion from INR 15.68 billion, and INR 19.69 billion last year. Cash recoveries fell to INR 10.54 billion from INR 11.25 billion in previous quarter and INR 13.33 billion last year. The upgrades fell to INR 6.39 billion from INR 15.91 billion last quarter and INR 6.40 billion last year.

 

The public sector bank's global yield on advances fell to 7.69% in the December quarter, down 69 bps from corresponding period last year and 21 bps from the trailing quarter. The bank's global cost of funds in Oct-Dec fell to 4.50% from 4.63% a year ago and 4.58% in the trailing quarter. Global cost of deposits fell to 5.09% from 5.24% in the same quarter a year ago and 5.18% in the September quarter.

 

Its asset quality improved as the gross non-performing asset ratio fell 90 bps year-on-year to 3.19% from 4.09% and 26 bps over last quarter. The net NPA ratio improved 9 bps on year to 0.32% from 0.41%, it was down 4 bps from the previous quarter.

 

The bank's capital to risk-weighted assets ratio rose 136 bps on year to 16.77% as of Dec. 31. Sequentially, it fell 42 bps. The provision coverage ratio rose to 96.99% in the December quarter, up 22 bps from the same quarter a year ago.

 

The current account savings account deposits of Punjab National Bank rose over 5% on year to INR 5.92 trillion in the December quarter. The domestic current account savings account deposits ratio as a percentage of total deposits fell 100 bps on year to 37.1%.

 

Punjab National Bank's shares closed at INR 128.05 on the National Stock Exchange Monday after the results were declared, falling more than 3% from the previous close. 

 

 

The bank made provisions worth INR 11.5 billion in the December quarter. This was against provisions worth INR 2.85 billion reversed in the year ago period. Bank's NPA provisions for the December quarter rose to INR 13.41 billion from INR 3.18 billion in the same quarter a year ago.

 

The public sector lender made a floating provision of INR 9.55 billion during the December quarter. It is holding total floating provision of INR 17.75 billion as of Dec. 31. The bank held an additional provision of INR 21.06 billion as of Dec. 31 to adhere to the Reserve Bank of India's directions for having total banking exposure of over INR 15 billion.  End

 

Edited by Akul Nishant Akhoury

 

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