1. Opening Hook
Once upon a time, PNB was famous for everything except profits.
Fast forward to Q3 FY26, and suddenly the same bank is flaunting ₹5,100 Cr net profit like it just discovered compound interest again.
From scam-era PTSD to spreadsheet flexing, PNB’s transformation story has become the PSU banking equivalent of a Netflix comeback series. Asset quality is behaving, provisions are apologetic, and ROA has finally crossed the psychological 1% line—cue polite claps from analysts.
But before you start calling it “best-in-class,” remember: CASA is sulking, NIMs are tired, and guidance is… aspirational.
Read on. The real masala is buried after the headline numbers—exactly where management hopes you won’t look. 😏
2. At a Glance
- Net Profit ₹5,100 Cr (+13.1%) – PNB finally printing without RBI babysitting.
- Operating Profit ₹7,481 Cr (+13%) – Core engine running, no treasury steroids required.
- ROA 1.06% – PSU banks celebrate crossing lines private banks jog past.
- GNPA 3.19% – Asset quality behaving like it’s on parole.
- NNPA 0.32% – Almost invisible, thanks to aggressive provisioning.
- CASA 37.1% – Management wanted 38%, reality wanted tea break.
3. Management’s
Key Commentary
“Net profit grew by 13.1% YoY.”
(Yes, yes. We also noticed the press release headline.) 😏
“Asset quality has improved significantly.”
(Because provisioning now solves emotional trauma too.)
“PCR stands at 96.99% including TWO.”
(Translation: We’ve buried the bodies properly this time.)
“Credit growth is driven by RAM segments.”
(Retail, Agri, MSME—because corporates are still side-eyeing PSU banks.)
“Digital transactions are now 94.86% of total transactions.”
(Branches exist mostly for legacy vibes and selfies.)
“We are confident of achieving FY26 guidance.”
(Assumes macro behaves, rates cooperate, and CASA listens.) 😏
4. Numbers Decoded
| Metric | Q3 FY26 | YoY Trend | Decoded Take |
|---|---|---|---|
| Net Profit | ₹5,100 Cr | +13.1% | Sustainable… unless credit costs wake up |
| ROA | 1.06% | +3 bps | Barely crossed, but crossed |
| GNPA | 3.19% | -90 bps | Cleanup almost done |
| NNPA | 0.32% | -9 bps | Provisioning doing heavy lifting |
| NIM | 2.52% | ↓ | Rate cycle not impressed |
| CASA | 37.1% | ↓ | Deposit war casualties |
