• Event Type: Q2 FY27 Earnings Conference Call with Analysts/Investors

• Date and Time: October 16, 2026 (time not specified in transcript)

• Purpose: Discussion of unaudited (reviewed) financial results for the quarter/half-year ended September 30, 2026

• Management Participants:

  • Mr. Ashok Chandra – Managing Director and Chief Executive Officer
  • Mr. M. Paramasivam – Executive Director
  • Mr. Amit Kumar Srivastava – Executive Director
  • Mr. Sunil Kumar Goyal – Chief General Manager, Strategic Management and Economic Advisory Division (moderator)

• Material Available: Transcript of the earnings call is available at https://pnb.bank.in/financials-current.html

• UPSI Statement: The document contains forward-looking statements with appropriate risk disclosures as required by regulations

• Financial Period Discussed: Q2 FY27 (quarter ended September 30, 2026)

• Key Financial Highlights:

  • Net profit: INR 5,532 crores (12.8% YoY growth)
  • Net Interest Income: INR 11,601 crores (10.8% YoY growth, 7.4% QoQ growth)
  • Operating profit: INR 7,532 crores (maintained above INR 7,500 crores for 3 consecutive quarters)
  • Domestic NIM: 2.74% (10 bps improvement QoQ from 2.64%)
  • Global NIM: 2.58% (8 bps improvement QoQ from 2.50%)
  • Gross NPA: 2.55% (improved from 3.45% YoY)
  • Net NPA: 0.25% (improved from 0.36% YoY)
  • Return on Assets: 1.05%
  • Return on Equity: 17.32%
  • Cost-to-Income ratio: 50.45% (improved from 51.20% YoY)
  • Capital Adequacy: 17.95% (CET1: 14.44%)

• Business Growth Metrics:

  • Gross global business: INR 31.18 lakh crores (11.9% YoY growth)
  • Advances: INR 13.41 lakh crores (14.7% YoY growth)
  • Core advances (ex-IBPC): 17.4% YoY growth
  • Retail advances (ex-IBPC): 16.3% YoY growth
  • MSME advances: 19.8% YoY growth
  • Agriculture advances: 18.1% YoY growth
  • Global deposits: INR 17.77 lakh crores (9.9% YoY growth)
  • CASA growth: 7.33% YoY
  • CD ratio: 75.5%

• Asset Quality Metrics:

  • Slippages: INR 2,395 crores (0.77% of advances)
  • Recovery: INR 2,805 crores (1.17x slippages)
  • PCR: 97.32%
  • SMA 0+1+2: 2.49% of loan book
  • Fresh underwriting quality (since July 2020): 0.42% NPA on disbursed amount

• Strategic Updates:

  • Branch expansion: 162 new branches opened (target 250 for FY27), 119 in Southern/Western regions
  • FCNR campaign: USD 2.7 billion raised (target USD 2.5 billion), used to reduce high-cost deposits
  • Corporate sanctions: INR 2.5 lakh crores in H1 FY27 (INR 4 lakh crores in FY26)
  • Pipeline: INR 1.58 lakh crores corporate credit pipeline
  • Digital transformation: INR 41,500 crores digital sanctions in H1 FY27
  • 95% customer transactions now digital
  • 31% YoY increase in digital transactions

• Forward-looking Statements:

  • Expects 7-9 bps NIM improvement from recent repo rate hike
  • Maintaining FY27 guidance for GNPA (<2.5%), NNPA (<0.5%), PCR (>96%)
  • Targeting recovery of INR 12,000-13,000 crores for FY27
  • ECL transition impact estimated at INR 8,000 crores for loan book
  • Planning wealth management services launch in January 2027
  • Trade finance module revamp underway

Additional Notes Section

• Attachments: The regulatory filing includes the transcript of the earnings call

• Financial Data: Extensive financial data and performance metrics were disclosed during the call

• Compliance: The document was filed pursuant to Regulation 30 read with 15(b)(iii) Para A Part A of Schedule III of the SEBI (LODR) Regulations, 2015