Total income rose 5.44% YoY to Rs 38,185.41 crore from Rs 36,213.62 crore, and 2.56% quarter-on-quarter (QoQ) from Rs 37,230.73 crore. Net interest income (NII) grew 10.82% YoY to Rs 11,601.29 crore from Rs 10,468.80 crore, and 7.44% QoQ from Rs 10,798.36 crore. Fee-based income climbed 16.0% YoY to Rs 1,954 crore from Rs 1,685 crore.
Profit before tax (PBT) increased 12.92% YoY to Rs 7,434.67 crore from Rs 6,583.98 crore, and 6.54% QoQ from Rs 6,978.01 crore. Pre-provisioning operating profit (PPOP) grew 4.22% YoY to Rs 7,531.94 crore from Rs 7,227.06 crore, and edged up 0.17% QoQ from Rs 7,519.20 crore. Global net interest margin (NIM) improved to 2.58% from 2.50% in Q1 FY27, but was marginally lower than the 2.60% a year earlier.
Provisions and contingencies fell 84.87% YoY to Rs 97.27 crore from Rs 643.08 crore, and 82.03% QoQ from Rs 541.19 crore.
Asset quality improved. Gross NPAs declined 15.25% YoY to Rs 34,190.17 crore, with the gross NPA ratio at 2.55% against 3.45% a year ago and 2.78% in June 2026. Net NPAs fell 17.70% YoY to Rs 3,313.27 crore, with the ratio at 0.25% against 0.36% a year ago and 0.28% in the previous quarter. Provision coverage ratio, including technical write-offs, stood at 97.32%, compared with 96.91% a year earlier and 97.23% in June 2026. The slippage ratio was 0.77% against 0.71% a year ago.
Global business grew 11.9% YoY to Rs 31,18,434 crore. Global deposits rose 9.9% YoY to Rs 17,77,240 crore, up 3.04% QoQ, while global advances grew 14.7% YoY to Rs 13,41,194 crore, up 5.35% QoQ. The credit-deposit ratio rose to 75.5% from 72.3%. CASA deposits grew 7.3% YoY to Rs 6,25,945 crore, with the CASA share at 36.6% against 37.29% a year earlier.
Retail advances excluding inter-bank participation certificates (IBPC) grew 16.3% YoY. Housing loans rose 14.3% to Rs 1,41,836 crore, vehicle loans rose 29.6% to Rs 38,234 crore, agriculture priority-sector advances rose 18.1% to Rs 1,71,156 crore, and MSME advances rose 19.8% to Rs 2,14,619 crore. Capital adequacy ratio (CRAR) improved to 17.95% from 17.19% a year ago, and tangible book value per share rose to Rs 111.94 from Rs 95.92. Return on assets was steady at 1.05%.
Digital transactions rose 31% YoY to 408 crore in the quarter and accounted for about 95.7% of the bank's total transactions. WhatsApp Banking users rose 72% to 143 lakh. The bank's retail app, PNB One, had 285 lakh users, and its corporate app, PNB One Biz, had 4.14 lakh users, up 112%.
Punjab National Bank is a New Delhi-headquartered public sector lender. It has 10,481 domestic branches, 2 international branches and 53,672 customer touch points.
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