Punjab National Bank shares gain 8% as Q2 profit beats estimates; here’s what analysts said

The Bank reported a 12.8% year-on-year (YoY) surge in its standalone net profit to ₹5,532 crore in the second quarter of the 2026-27 financial year (Q2 FY27), as against ₹4,904 crore in the same period last year.

Its net interest income (NII) grew by 10.8% YoY to ₹11,601 crore for the reporting quarter, as against ₹10,469 crore in the September quarter of the 2025-26 fiscal year (Q2 FY26), according to a regulatory filing.

PNB reported a net interest margin (NIM) of 2.58% in the quarter ended September 20, 2026 from 2.5% in the previous quarter of the current year.

Here’s what analysts said

PNB’s NIM improved by 8 basis points (bps) sequentially, supported by loan yields and deposit cost. Its management guided that NIM could further improve. The analysts noted that its asset quality was stable, with a gross slippage ratio of 0.8%.

“Runoff of wholesale deposits via FCNR (foreign currency non-deposit) inflows trimmed CoD (cosy of deposits) by 5bps, while continued paring of retail IBPC (Inter-Bank Participation Certificate) and low-yielding corporate exposure lifted yields by 8 bps,” CITI analysts said.

The analysts added that the credit costs were pushed near zero, as release in standard asset provisioning offset NPA and floating-provision buffers, further stating that the Bank’s return on assets (RoA) held firmly above 1%.

PNB’s global advances climbed 14.7% YoY and 5.3% QoQ, outpacing FY27 guided band of 12% to 13% band, aided by FCNR-funded overseas exposure (1.5% of the book), analysts noted. They added that the Bank’s management reaffirmed guidance of 12–13% loan growth, NIMs of 2.6–2.7%, sub-40bps credit costs, and RoA above 1%.

PNB share performance

At around 2:59 PM, the stock was trading 4.76% higher at ₹121.84 per equity share.

The scrip has risen 5% in the past week and 4% over the month. However, on a year-to-date (YTD) basis, it has lost 2%.

While the shares hit a 52-week high of ₹135.15 per unit on January 19, 2026, they touched a year’s low of ₹98.50 apiece on May 18, 2026.

Punjab National Bank has a total market capitalisation of ₹1.40 lakh crore as of October 19, 2026, according to data on the NSE.