Interim report
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Share Department, Board & Coordination Division, Head Office Plot No.4 Sector 10, Dwarka, New Delhi–110075, E-mail: hosd@pnb.bank.in Scrip Code : PNB Scrip Code : 532461 National Stock Exchange of India Limited Exchange Plaza, Bandra – Kurla Complex, Bandra (E) Mumbai – 400051 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 Date: 16.10.2026 Dear Sir(s), Reg.: Outcome of Board Meeting under Regulation 30 and 51 of SEBI (LODR) Regulations, 2015 The Exchange is hereby informed that the Board of Directors of the Bank in the meeting held today i.e. 16th October, 2026 has c onsidered and approved the Unaudited / Reviewed Financial Results of the Bank (Standalone and Consolidated) for the quarter/ half-year ended 30th September, 2026. The Board Meeting commenced at 02:45 p.m. and concluded at 04:15 p.m. A copy of the Standalone and Consolidated Unaudited/ Reviewed Financial Results along with the Limited Review Report in the prescribed format are enclosed. The same shall also be placed on the Bank's website (https://pnb.bank.in/fInancials-current.html). We request you to take note of the Results in terms of Regulation 33 and 52 of the SEBI (LODR) Regulations 2015. The Security Cover Certificate for the quarter ended 30th September, 2026, in terms of Regulation 54 of the SEBI (LODR) Regulations 2015, is enclosed. Further, the disclosure of Statement of Deviation/Variation under Regulation 32 and 52 (7A) of SEBI (LODR) Regulations, 2015 for the quarter ended 30th September, 2026 are not applicable. You are requested to take the above on record. Thanking you (Bikramjit Shom) Company Secretary Encl.: As above pnb.bank.in
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ParticularsS.No. r r scounMadvances / bills b) Income on Investments ’c)-Balances with RBI & other inter bank funds 'd) Others -2–lZ5ther Income T -3–Kaist Expende3c ) :a) Employees Cost b) Other operatinq©xpenses HTOTAL EXPENDIRIRE (3+4) (excluding provisions & contingencies) e br s of which provisions for Non Performing Assets Hceptional items s e tax (C-D.El X ro aExtraordinary items (net of tax expense) r 1 1 st r rest (J+K-L) IP equity Share Capital (Face value Rs. 2/-each: e 'as per Balance sheet of previous year) r 'i) Share holding of Govt. of India (%) 'ii) Capital Adequacy Ratio - Basel-111 (%) :a) CET 1 Ratio (%' 'b) Additional Tier 1 Ratio (%) Earnings per Share (EPS) not annualized (in Rs ’a) Basic and diluted EPS before extraordinary items b) Basic and diluted EPS after extraordinary items iv) NPA Ratios 'a) Amount of Gross NPAs b) Amount of Net NPAs ’c) % of Gross NPAs :d) % of Net N PAs B Return on Assets (Annualised) % ;vi) Net Worth 'vii) Outstanding redeemable preference shares (Quanti1 :viii) Capital redemption reserve/debenture redemption reserve ix) Debt-equity ratio (Borrowings/Net Worthl ’x) Total Debts to Total Assets (BorrowinqsfTotal Assets) :;i) Operating Margin (%) (Operating Profit/Total Income) Me Profit Margin (%) (Net Profit after tax/Total Income) and Value PUNJAB NATIONAL BANK HEAD OFFICE: NEW DELHI FINANCIAL RESULTS fREVIEWED) FOR THE QUARTER / HALF.YEAR ENDED SEPTEMBER 30, 2026 L 3 e 3 m2 2 1 4 3 3 2 6 4 m' 3065347 753194 9727 81689 0 743467 190244 553223 0 m3 553223 229859 4.81 4.81 3419017 331327 2.55 0.25 1.05 2 0.88 0.05 19.72 14,49 T 30.09.2025 Reviewed 3187153 2191421 854121 99694 41917 434209 3621362 2140273 758383 474699 W8 28986562971153 751 920 54119 79202 0 697801 172472 525329 0 525329 722706 64308 -63919 0 658398 168025 490373 0 490373 525329 229859 490373 229859 70.08 18.13 14.52 1.51 70.08 17.19 12.75 1.66 4.27 D2 4.57 U5 4034333 402575 3.45 0.36 1.05 11 024532 3538080 343320 2.78 0.28 1.04 2 0.64 0.04 20.20 14.11 0.77 0.05 19.96 13.54 e 3 e 6 4 1 2 T9 m9 5 5 1 8 6 59136976036500 m3 96618 -24306 0 1334223 676350 657873 0 657873 1505114 63846 160891 0 1441 268 362716 1078552 0 1078552===Un ::ill;iii$iii 1 2 70.08 17.19 12.75 D6 70.08 17.95 14.44 04 5.72 S12 9.38 D3 4034333 402575 3.45 0.36 0.71 11 024532 3419017 331327 2.55 0.25 1.04 12865723 0.88 0.05 19.96 14.30 0.77 0.05 19.48 8.96 CONSOLIDATED L 2 6 6 e w w w 3 8 1 8 mBTn2 1 8 o 4 3 0 8 4 4 4 9 3 3 1 8 3 9 6 8 2 m5 a7 o 7 7 6 4 4 5 7 6 3 0 8 4 Year ended 31.03.2026 Audited 12822319 8876159 3312577 425777 207806 1879397 14701716 8626342 314641 1 1874703 1271708 31 2274711772753 756363 7537 80346 0 748826 192712 556114 0 556114 35692 1969 589837 229859 2928963 253993 200430 0 2674970 984571 1690399 0 1690399 1690399 229859 12998781 70.08 17.74 13.62 05 70.08 17.96 14.45 1.46 5.13 5.13 14.71 14.71 3712412 360956 2.95 0.29 0.89 11831714 0.70 0.04 19.92 11.50 29528903029099 715488 62780 -66408 0 652708 167844 484864 0 484864 27195 -469 512528 229859 766276 55470 80359 0 710806 176891 533915 0 533915 49562 2005 581472 229859 70.08 17.20 12.78 1.66 4.46 4.46 70.08 18.11 14.52 1.50 5.06 5.06 A ;iA : :: ::aT: rFi;:'€ ii,q: 60209216151846 1447341 97291 -31971 0 1350050 681964 668086 0 668086 60683 4253 724516 229859 1522639 63007 160705 0 1459632 369603 1090029 0 1090029 85254 3974 1171309 229859n==b===n== ===== F:: :A 70.08 17.20 12.78 1.66 6.30 6.30 70.08 17.96 14.45 1.46 10.19 10.19 Rs. in lacs Year ended 31.03.2026 Audited 13077209 8954689 3483620 431085 207815 1869121 14946330 8806940 3182896 1899228 1283668 11989836 2956494 248328 188387 0 2708166 998589 1709577 0 1709577 137093 7401 1839269 229859 13731030 70.08 17.76 13.67 1.53 16.00 16.00
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E] [>nb punjab national bank ...the name WU can BANK upon I Notes forming part of Reviewed Standalone and Consolidated Financial results for the quarter and half-year ended September 30, 2026: 1. Summarised Statement of Assets and Liabilities: Rs in Lacs Consolidated 3 0 3 :Reviewed) 1 (Reviewed) : (Audited) I (Reviewed Particulars 30.09.2026 Reviewed Standalone 3 3 :Reviewed) 1 (Audited) I (Reviewedi CAPITAL & LIABILITIES Capital Reserves & Surplus Minority Interest Deoosits Borrowings Other Liabilities and Provisions TOTAL ASSETS Cash & Balances with Reserve Bank of India Balances with Banks & Money at Call & Short Notice Investments Advances Fixed Assets Other Assets TOTAL 229859 15047825 2 2 1 5 229859 15868342 67798 179278002 13783572 2 9 7 1 6 8 1 1 1 5 177724048 11 361584 3596814 207960130 1 2 7 1 3770390 4980208 1 3923283 3657636 1 3833744 1 5031538 1 3973724 9 9 2 2 3 5042486 7124274 1 6085552 6522831 5045528 7127323 6088217 1 6524964 10014165 90311531 lol09155 8110735 l0276073 1 9193219 1 l0323981 1 8301508 51759086 131045081 1555952 8543360 207960130 9 5 1 1 1 1 8 7 1 9 5 5 5 1 1 8 1 1 1 8 3 8 2 03 2. These financial results have been drawn from the financial statements prepared in accordance with Accounting Standard 25 (AS-25) “Interim Financial Reporting” issued by the Institute of Chartered Accountants of India. 3. These financial results have been reviewed and recommended by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on October 16, 2026. The same have been subjected to limited review by the Statutory Central Auditors of the Bank, as per the requirements of Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended thereafter These financial results of the Bank have been arrived at after considering necessary provisions for non-performing assets, standard assets, restructured advances, stressed sector accounts, standard derivative exposures, direct taxes including deferred tax, unhedged foreign currency exposure, depreciation on fixed assets and investment depreciation on the basis of extant guidelines issued by the Reserve Bank of India, judicial 4
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pronouncements and applicable accounting standards issued by The Institute of Chartered Accountants of India. Other usual and necessary provisions (including provision for employee benefits) for the quarter/ half year have been made on estimated basis and are subject to adjustments, if any, at the year end. 5. There are no material changes in Significant Accounting Policies followed for preparation of financial results for the quarter/ half year ended September 30, 2026, as compared to those followed for the preparation of financial statements for the year ended March 31, 2026. 6. The Consolidated financial results are prepared in accordance with Accounting Standard 21 “Consolidated Financial Statements” and Accounting Standard 23 “Accounting for Investments in Associates in Consolidated Financial Statements” issued by the Institute of Chartered Accountants of India and guidelines issued by RBI. 7 These consolidated financial results of the Group comprise financial results of 5 Subsidiaries and 11 Associates as per list given below. The consolidated results are prepared in accordance with RBI guidelines, section 133 of Companies Act, 2013 and Regulation 33 and 52 of Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. SI. No. Name of the Entity Proportion of Ownership (%) as at 30.09.2026 A. 1 2 3 4 5 B. 1 2 3 4 5 6 7 8 9 10 11 Note – Subsidiaries PNB Investment Services Ltd. PNB Cards and Services Ltd. Punjab National Bank (International PNB Gilts Limited Druk PNB Bank Ltd., Bhutan Associates PNB Metlife India Insurance Compan' PNB Housing Finance Limited Everest Banke Assam Gramin Bank, Guwahati" Bihar Gramin Bank. Patna Harvana Gramin Bank, Rohtak" Himachal Pradesh Gramin Bank. Mandi Manipur Rural Bank, Imphal Puniab Gramin Bank, Kapurthala Tripura Gramin Bank, Aqartala West Bengal Gramin Baro 100.00 100.00 Ltd., UK 100.00 74.07 51.00 Ut 30.00 28.01 20.02 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 a) b) JSC (Tengri Bank), Almaty, Kazakhstan, an associate of the Bank with shareholding of 41.64% is under liquidation. "Pursuant to Gazette notification no. 4692 dated October 24, 2025, Department of Financial Services, Ministry of Finance vide notification no. S.O. 4831 (E) & S. O. 4833 (E) has renamed Assam Gramin Vikash Bank to Assam Gramin Bank and Sarva Haryana Gramin Bank to Haryana Gramin Bank. efFI4%2+ t CXXH A VA
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c) Canara HSBC Life Insurance Company Limited has ceased to be an Associate of the Bank w.e.f. 17.10.2025 as the Bank’s shareholding in the company declined from 23% to 13% following the sale of shares through an OFS-IPO. 8. In accordance with SEBI regulations, for the purpose of quarterly consolidated financial results for Sep 30, 2026, minimum eighty percent of consolidated revenue, assets and profits have been subjected to limited review. 9 In accordance with the RBI circular no. RBI/2026-27/83DOR.MRG.REC.No.71/00-00- 001/2026-27, dated May 18, 2026, regarding the Classification, Valuation and Operation of Investment Portfolio (Second Amendment) Directions, 2026, the requirement to maintain the Investment Fluctuation Reserve (IFR) has been discontinued. Accordingly, the Bank has transferred the outstanding IFR balance of Rs. 4143.55 crore to the Other Reserves (General Reserve) during the half year ended September 30, 2026. 10. As per RBI Letter no. DBR.No.BP.15199/21.04.048/2016-17 dated June 23, 2017 (RBI List-1) and Letter no. DBR.BP.1908/21.04.048/2017-18 dated August 28, 2017 (RBI List- 2) for the accounts under the provisions of Insolvency & Bankruptcy Code (IBC) where the Bank is having exposure, the Bank is holding total provision of Rs. 6762.51 crore (Aggregate provision of RBI List 1 and List 2 accounts is 100%) as on September 30, 2026. 11. During the quarter/ half year ended September 30, 2026, the Bank has not availed any dispensation in respect of frauds in terms of option available as per RBI Circular No. RBI/DOR/2025-26/164 DOR.STR. REC.83./ 21.04.048/2025-26 dated November 28. 2025 Further, there is no un-amortized amount which has been carried forward to subsequent quarters 12. In terms of RBI Circular RBI/DOR/2025-26/165 DOR.STR.REC.84/21.04.048/2025-26 dated November 28, 2025 on Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) 'Directions, 2025, having total banking exposure of Rs. 1,500.00 Crore and above, the Bank is holding additional provision of Rs. 2252.29 crore as on September 30, 2026 for 14 borrowers as summarized below: (Rs.in Crore) ount of loans mpacted by RBI Circular (FB+NFB) Amount of NPA Loans Amount of FB NPA loans out of (b) Amount of Standard loans as TotalAdditionalTota Additional Provision / 1 Provision Provision heIdI (Reversal) Iheld as on Imade duringB0.09.2026as an 30.06.2026 quarter (g) – (e) as on 30.09.2026 out of (a) (FB+NFB) on 30.09.202 6 out of (a ’da &94.64 i T45836 'C 6.oo r03539 e F377.53 C (125D 2d2.29 13. In accordance with RBI circular no. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 01, 2019, DOR.No.BP.BC.34/21.04.048/2019-20 dated February 11, 2020 and DOR.No, BP.BC/4/21.04.048/2020-21 dated August 06, 2020 on 'Micro, Small and Medium
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Enterprises (MSME) sector – Restructuring of Advances’, the summary of MSME restructured accounts as on September 30, 2026 is as under: Rs. in Crore Amount involved 267.30 No. of Accounts Restructured 1343 14. In accordance with RBI circular no. DOR.STR.REC.12/21.04.048/2021-22 dated May 05, 2021 on Resolution Framework 2.0 - Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs) the summary of restructured accounts as on September 30, 2026 is as under: Rs. in Crore Amount involved 11 27.02 No. of Accounts Restructured 7951 15. Details of resolution plan implemented under Resolution Framework for COVID 19 related stress as per RBI Circular RBI/2020-21/16 DOR.No.BP.BC/3/21.04.048/2020-21 dated August 06, 2020 and RBI/2021-22/31 DOR.STR.REC. 11/21.04.048/2021-22 dated May 5, 2021 are given below: in Crore Exposure to Exposure to accounts classified as Standard consequent to implementation of resolution plan - Position as at 30.09.2026 280.04 accounts classified Of (A), aggregate debt that Of (A) amount Of (A) as Standard amount Type of Borrower consequent to slipped into NPA written paid by implementation of resolution plan - Position as at 31.03.2026 (A) a8.86 the during the half- borrowers during the half year during the half-year year Personal Loans Corporate no WO 25.50 ersons* *Of wh/ch MSMEs Others Total OTR 1.0 Personal Loans Business Loans Small Business Total OTR 2.0 Grand Total 812.82 0.00 0.00 289.47 789.59 147.03 0.00 0.00 30.05 152.99 2.56 11 24.24 0.00 7.07 53.10 6.55 4.62 64.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.18 315.15 270.99 44.36 47.76 363. 1 1 678.26 2.43 1072.06 2745.36 163.33 298.90 3207.59 4279.65 2912.56 161.74 303.45 3377.75 4501.99 71.34 Note: There are 249 borrower accounts having aggregate exposure of Rs. 17.81 crore to the Bank where resolution plans had been implemented and modified under RBI’s resolution framework 2.0 dated May 5, 2021. 16. As per RBI/DOR/2025-26/147 DOR.LIC.REC.No.66/22-01-001/2025-26 dated November 28, 2025, for the purpose of disclosure under Accounting Standard 17, Segment Reporting issued by ICAI, Digital banking Segment has been identified as sub-segment under Retail Banking Segment by Reserve Bank of India (RBI). As on September 30, 2026, 8 (eight) Digital banking Units (DBUs) of the Bank are operating and the segment information disclosed as Digital Banking under Retail Banking Operations is related to the said DBUs.
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17. As on September 30, 2026, the Bank is holding an additional provision of Rs. 96.89 crore (additional provision outstanding at end of previous quarter was Rs. 98.02 crore) on standard accounts restructured under COVID 19 Resolution Framework 1.0 and 2.0. at higher than prescribed rate of 5%/10%, as per Bank’s policy based on the evaluation of risk and stress in these sectors, in terms of Reserve Bank of India (Commercial Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025 dated November 28, 2025. 18. During the quarter ended September 30, 2026, the Bank has made floating provision of Rs. 125 crore for non-performing assets in line with the Board approved policy. As on September 30, 2026, the Bank is holding floating provision of Rs. 2560 crore. 19.During the quarter ended September 30, 2026, the Bank has proactively made an additional provision of Rs. 1150 crore on standard advances over and above the regulatory minimum as per the option available in accordance with Reserve Bank of India (Commercial Banks - Income Recognition, Asset Classification and Provisioning) Directions, 2025. 20. In terms of RBI circular no. RBI/DOR/2025-26/167 DOR,ACC.REC.No.86/21.04 018/2025-26 dated November 28, 2025 on Reserve Bank of India (Commercial Banks - Financial Statements: Presentation and Disclosures) Directions, 2025, disclosure related to project finance is as below: SI No 1 2 3 4 No of A/cs 1733 Total O/s (Rs. in Crore Item Description Projects under implementation accounts at the beginning of the quarter. Projects under implementation accounts sanctioned during the quarter Projects under implementation accounts where DCCO has been achieved during the quarter Projects under implenntation accounts at the end of the luarter. (1+2-3' Out of '4’ – accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be, has been invoked Out of '5’ – accounts in respect of which Resolution plan has been implemented Out of '5’ – accounts in respect of which Resolution plan is under implementation Out of '5’ – accounts in respect of which Resolution plan has failed . Out of '5’, accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be, has been invoked due to change in scope and size of the Droiect 26132.89 189 151 966.64 924.03 1771 26175.50 5 5.1 5.2 5.3 169 169 0 0 3003.28 3003.28 0.00 0.00 6 0 0.00
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21. The Bank has estimated the liability for Unhedged Foreign Currency Exposure (UFCE) in terms of RBI circular RBI/DOR/2025-26/157 DOR.CRE.REC.76/07-02-001/2025-26 dated November 28, 2025 and is holding a provision of Rs. 291.90 crore as on September 30, 2026 (Rs. 280.72 crore as on September 30, 2025). 22. As per RBI Circular no. RBI/DOR/2025-26/1 59 DOR.STR.REC.No.78/21.04.048/ 2025-26 dated November 28, 2025 on Reserve Bank of India (Commercial Banks - Transfer and Distribution of Credit Risk) Directions, 2025, the details of Co-Lending Arrangements (CLA) are as below – MM;; 6} i;:§3 $ SI. No Item Description Out of '5’, account in respect of which cost overM associated with extension in original / extended DCCO, as the case may be, was funded Out of '7’, accounts where SBCF was sanctioned during financial closure and renewed continuousl' Out of '7’, accounts where SBCF was not pre-sanctioned or renewed continuousl' Out of '4’ – accounts in respect of which resolution process not involving extension in original / extended DCCO, as the case mav be, has been invoked. Out of '8’ – accounts in respect of which Resolution plan has been implemented Out of '8’ – accounts in respect of which Resolution plan is under implementation . Out of '8’ – accounts in respect of which Resolution plan has failed. 7 7,1 7.2 8 8.1 8.2 8.3 Particulars Quantum of CLAs (in ? crore' %)@hted Fees paid' (in ? crore' Broad sectors in which CLA was made Performance of loans under CLA Total loan. disbursed till 30.09.2026 (in ? crore Total loan outstanding (in ? crore' Standard (in ? crore'Out of which NPA (in ? crore' Default loss guarantee, if an' Others *Gross fees amount paid to Co-lending partners during the period. @ Weighted average rate of interest was introduced in Reserve Bank of India (Commercial Banks - Transfer and Distribution of Credit Risk) Directions, 2025 dated 28.11.2025 effective from 01.01.2026 applicable for new CLA entered after Total O/s (Rs. in Crore No of A/cs 0 0.00 0.00 0.00 0.00 0 0 0 0 0 0 0.00 0.00 0.00 As on 30.09.2026 757.88 NA NIL MSME & Retail 1304.19 757.88 727.07 30.81 NA NA
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effective date. However, Bank has not entered into any new tie-up after effective date of 01.01.2026, hence weighted average ROI is not applicable. 23. The Provisioning Coverage Ratio (including Technically Written off accounts) as at September 30, 2026 works out to 97.32% (96.91% as at September 30, 2025). 24. In accordance with RBI circular no. RBI/DOR/2025-26/159 DOR.STR.REC.No.78/ 21.04.048/2025-26 dated November 28, 2025, the details of loans transferred/ acquired during the quarter ended September 30, 2026 are given below: 1. 11. The Bank has not acquired any Special Mention Accounts (SMA) and also not transferred any loans not in default or Special Mention Accounts (SMA). Details of loans not in default acquired through assignment: Particulars Amount of Loan Wejghted average matu WeiqMaveraqmldinq m Retention of bennal ec8nomic interest Tangible security coverage Batirme distribution of rated loans Values Rs. 6650.65 crore 167.09 months 25.49 months 10% 230.62% NA origjnator' 111 The Bank has not acquired any non-performing assets. IV. Details of non-performing assets (NPAs) transferred: Amount in Rs. crore Particulars To ARCs To permitted transferees To other transferees No. of accounts Nil Nil Nil Aggregate principal loans transferred outstanding of Nil Nil Nil Weighted average residual tenor of the loans transferred Nil Nil Nil Net book value of loans transferred at the time of transfer) Nil Nil Nil Al lregate consideration Nil Nil Nil Additional consideration realized in respect of accounts transferred in earlier years 35.40 Nil Nil Quantum of excess Provision reversed to the Profit & Loss account on account of sale of stressed loans Nil Nil Nil 25. As per RBI Circular no. RBI/DOR/2025-26/159 DOR.STR.REC.No.78/21.04.048/ 2025- 26 dated November 28, 2025, on Reserve Bank of India (Commercial Banks- Transfer \
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and Distribution of Credit Risk) Directions, 2025, banks are permitted to reverse any excess provision to the Profit and Loss Account in the year of transfer of a loan to an Asset Reconstruction Company (ARC) for a value higher than the Net Book Value (NBV), provided the consideration consists solely of cash and SRs guaranteed by the Government of India. Such SRs shall be valued periodically by reckoning the Net Asset Value (NAV) declared by the ARC based on the recovery ratings received for such instruments. In accordance with the said circular, the Bank has credited a net unrealised amount of Rs. 0.24 crore and debited a net unrealised amount of Rs. 1.09 crore during the quarter and half year ended September 30, 2026 respectively to the Profit and Loss Account in respect of SRs guaranteed by the Government of India. 26. Distribution of the SRs held across the various categories of Recovery Ratings assigned to such SRs by the credit rating agencies as on September 30, 2026: Recovery Rating Band Carrying Value*Face Value Rs. in Crore Rs. in Crore 7nORRI + 92.89 RRI 1664.231620.44 RR2 18.95 7.09 RR3 0.00 0.00 RR4 0.00 0.00 RR5 0.000.00 343.511896.90Unrated Total 3611.31 2107.72 As per RBI guidelines, post 8 years Rating is not applicable *Provision of Rs. 343.51 crore is held against carrying value of NPI SRs 27.Other income includes income from non-fund-based banking activities (including commission), fees, earnings from foreign exchange, profit/loss on sale of assets, profit/loss (including revaluation) from investments, dividends from subsidiaries, recoveries from accounts written off / technically written off, etc. 28. In terms of RBI circular no. RBI/DOR/2025-26/1 51 DOR.CAP.REC.70/21-01-002/2025- 26 dated November 28, 2025, banks are required to make Pillar 3 disclosures under BASEL III capital regulations. Accordingly, Pillar 3 disclosures under BASEL III capital regulations are being made available on Bank's website i.e. https://pnb.bank.in. These disclosures have not been subjected to limited review by the Statutory Central Auditors. 29. Details of Investors complaints for the quarter ended September 30, 2026: Pending at Beginning: 0, Received: 19; Disposed off: 19; Closing: 0. 30. The figures of the quarter ended September 30, 2026 are the balancing figures between the reviewed figures in respect of the half year ended September 30, 2026 and the reviewed figures for the quarter ended June 30, 2026.
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31.Figures of the previous periods have been regrouped / rearranged / re-classified wherever necessary to conform to current period's classification. „„,k„,„ Dy. General Manager Sachin Ludhiyani Asst. General Manager Raja n Dy. G. er Subash C Fishra General Manager cITb Rnr+atrlfever Chief Mneral Manager & CFO –\equc 'l dnA*U– Amit Kumar Srivastava Executive Director D. Surendran Executive Director Adl\th f/LaNg4 / Ashok Chandra Mahaging Director & CEO For Ummed Jain & Co Chartered Accountants FRN: 119250W For N K Bhargava & Co. hartered Accountants FRN: OO0429N I+( DELHI CA N K'khil Jain’+E rtner (M.No. 137970) Partner (M.No. 080624) For Prem Gupta & Co Chartered Accountants FRN: OO0425N TI For P A & Associates Chartered Accountants FRN: 313085E \b)„+':'/ CA Xajan Uppal Partner (M.No. 097379) CA P. S. Panda Partner (M.No. 051092) Place: New Delhi Date: October 16, 2026
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PUNJAB NATIONAL BANK STANDALONE CASH FLOW STATEMENT Particulars A. Cash Flow from Operating Activities (1) Net Profit/ (Loss) before tax (11) Adjustments for: Depreciation on Fixed Assets (Profit)/Loss on sale of Fixed Assets (net) (Profit)/Loss on Revaluation / Provision on Investments (net) Interest paid on Bonds Provisions for Non Performing Assets Provision on Standard Assets Other Provision (net) Dividend from Subsidiary / Others (Profit)/Loss on sale of Investments held in SBJVAS Sub Total (II1) Adjustment for: Decrease / (Increase) in Investments Decrease / (Increase) in Advances Decrease / (Increase) in Other Assets Increase / (Decrease) in Deposits Increase / (Decrease) in Borrowings Increase I (Decrease) in Other Liabilities & Provisions (iii) (i+ii+iii) (A) Cash generated from Operations Direct Taxes paid (net off refund) A Net Cash from/(used) in Operating Activities B Cash Flow from Investing Activities Purchase of Fixed Assets Sale of Fixed Assets Dividend recd from Subsidiary/Others Investment in Subsidiary/Others (net) Net Cash from/(used) in Investing Activities C. Cash flow from Financing Activities Issue/(Redemption) of Bonds (net) Interest paid on Bonds Dividend paid Net Cash from/(used) in Financing Activities D. Net Change in Cash and Cash Equivalents (A+B+C) 1 Cash and Cash Equivalents at the beginning of the period Cash and Balances with Reserve Bank of India Balances with Banks & Money at Call & Short Notice Cash and Cash Equivalents at the end of the period Cash and Balances with Reserve Bank of India Balances with Banks & Money at Call & Short Notice Rs.Datys omitted) a 3 MRrFIT–M,n®T–imRHI 14412,68,301 13342,22,241 26749,69,62(i) 682,14,11 -1 ,82,09 -1416.54,39 1289,62, 15 1608.91 ,41 136,38,11 -20,63,76 -89.39.16 0 1(ii) -22736.81 ,05 -86277,72,62 2284.27.72 66114.14,70 31301.52,06 -1 1003.70, 13 O -3716,94,64 -2364,62,73 3 -669,77,21 6.69,76 89,39,16 0 3(B) 0 -1289.62, 15 -3435.68.51 (C) 60855,52,03 101091 ,54,93 50424, 85.68 100141.64.96 150566,50,64 584,98, 1 1 -2.81.56 -1781 ,53,48 1495.85.09 -243,05,93 704.54,61 1575,51 .28 -58.42.69 0 2 -2508,64.47 -56071 , 18,78 -7599,66,37 50456.98,27 1903.81 . 14 -123.43.54 3 1675,13,921 26156,06,54 3350,33.991 146,01 ,06 5 -631.06,31 26.87, 1 9 58,42,69 -1050,26,07 -994.00.001 -5489,oo.oo -1495,85,091 -2845,42,20 -3323.78.521 -3324.89.66 5 2 64304,60,791 64304,60.79 84415.23,381 84415,23.38 8 [9,84,17 65228,30,571 60855,52,03 81 107.35.401 lol091 .54,93 1 T 1271.68,29 -7.19.10 -1017.50,82 2845,42.20 2004,29,71 162,04,46 1606,85,26 -91 ,84.84 -948.33.11 8 4594,89.67 -149325,77,36 -17223,28,93 144503.04.81 4026.60.90 7005,45,78 1 -1576.32.26 21.39.79 91 ,84.84 47,54,68
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Notes 1 Cash flow statement has been prepared under the Indirect Method and figures have been regrouped wherever considered necessary 2 Direct taxes paid (net off refund) are treated as arising from operating activities and are not bifurcated between investing and financing activities 3 Figures of previous period have been regrouped wherever considered necessary to conform current period classification k/a Ama/deep Singh %& Rajesh Kumar Jain \\a SubasH Chandra Mishra General Manager Sachin Ludhiyani Asst. General Manager Deputy General Manager Deputy General Manager Chil aManager & CFO Amit Kumar Srivastava Executive Director D. Surendran Executive Director Executive Director Date : October 16, 2026 Place: New Delhi
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(11) (II1) / B. Cash Flow from Investing ActIvItIes Purchase of Fixed Assets Sale of Fixed Assets Investment in Associates/JV/RRBs (net) C. D. Net Change in Cash and Cash Equivalents L NO Statement of Consolidated Cash Flow for the period ended September 30, 2026 Particulars A. Cash Flow from Operating Activities (1) Net Profit before tax (1) Adjustments for: Depreciation on fixed assets (Profit) / Loss on sale of Fixed Assets (net) (Profit)/Loss on Revaluation / Provision on Investments (net) Provisions for non performing assets Provision on Standard Assets Other Provision (net) Shares of earning in Associates Profit on sale of equity investments held in AFS Interest paid on Bonds (Profit) / Loss on sale of Investments held in SBJVAS Sub Total (ii) Adjustment for: Decrease/(Increase) in Investments Decrease/(Increase) in Advances Decrease/(Increase) in Other Assets Increase/(Decrease) in Deposits Increase/(Decrease) in Borrowings Increase/(Decrease) in Other Liabilities & Provisions Sub Total (iii) (i+ii+iii) (A) Cash generated from Operations Direct Taxes paid (net off Refund) Net Cash froml (used in) Operating ActivitIes Net Cash from/ (used in) Investing Activities (B) Cash flow from Financing Activities Issue/(Redemption) of Bonds (net) Dividend paid Interest paid on Bonds Increase/ (Decrease) in Minority Interest Net Cash froml (used in) FInancing ActIvIties (C) (A+B+C) Cash and Cash Equivalents at the beginning of the period Cash and Balances with Reserve Bank of India Balances with Banks & Money at Call & Short Notice Cash and Cash EquIvalents at the end of the perIod Cash and Balances with Reserve Bank of India Balances with Banks & Money at Call & Short Notice Period ended 3 v F--T–-THan] 15,409.12 685.30 (1.83) (1 .388.52) 1.607.05 129.86 (20.64) (852,54) 1 ,319.57 1 ,478.25 (22,208.88) (86,967.65) 1.809.02 67.984.60 30.277.33 :10,892.92 :19,998.50: (3,111.13) a5©2 (688,21 ) 19.19 58.44 (610.58i (3.445.02) (1.319.57) f1 1 .56: MmE [10,905.97 60.882.17 1.03,239.81 6 50,455.28 1 ,02,760.73 1,53,216.01 14,064.80 588.44 (2.82) (1 ,656.46) (319.71 ) 718.99 1.575.51 (606.83) 1 ,497.84 1 ,794.96 (4,603.95) (58,243.59) (8,037.61 ) 52,111.09 4,349.50 203.83 [14,220.731 1 ,639.04 3,284.28 4,923.32 (666.44) 47.99 (1.013.74) Bl@H2E} (994.00) (3.323.79) (1.497.84) 29.63 (5,786.00: (2,494.86 64,389.22 86,370.36 65,249.64 83,015.08 1 ,4QRagE78 (Rs. in Crore) Year ended g (Audited 28,378.59 { i } 1 ,281 .20 (7.19) (833.47) 1.883.87 156.89 1.606.85 (1 ,370.93) 2,91 1.22 (925.15) 2.796.53 (1 ,53,094.53) (19,115.08) 1 ,47,775.54 7.240.83 6.981 .59 1 25.666.76 r31 .35 X635.41 (1 .624.58) 41 .50 974.08 [609.00 (5.489.00) (3.324.90) (2.911 .22) 61.11 :11 ,664.01 1 3,362.40 64.389.22 86.370.36 60,882.17 1 ,03,239.81 1 ,64, 121.98
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I i 1 2 3 4 Notes Cash now statement has been prepared under the Indirect Method and figures have been regrouped wherever considered necessary Direct taxes paid (net off refund) are treated as arising from operating activities and are not bifurcated between investing and financing activities . Figures of previous period have been regrouped wherever considered necessary to conform current period classification Cash and Cash equivalents includes Cash on hand. Balance with RBI & Other Banks and Money at Call and Short Notice De er nt Asstt. Gener Subash ldra Mishra Genbrat Managerlager Deputy General Manager ii ChI aMal Manager & CFO –tecIve dI qbJbuC4 D. Surendran Executive Director Amit Kumar Srivastava Executive Director M.na Executive Director Date: October 16. 2026 Place: New Delhi iT;bar;; .=am
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Ummed Jain & Co. Chartered Accountants 51, Snehdhara Jeevan Vikas Kendra Marg Andheri East Mumbai – 400 069 N K Bhargava & Co. Chartered Accountants C-31, 1' Floor, Acharya Niketan C)pp. Pocket -1, Mayur Vihar Phase -1 New Delhi – 110 091 Prem Gupta & Co. Chartered Accountants 2342, Fatz Road, Karol Bagh New Delhi – 110 005 P. A. & Associates Chartered Accountants 12, Govind Vihar, Bomikhal Bhubaneswar – 751 010 Independent Auditors' Limited Review Report on Unaudited Standalone Financial Results of Punjab National Bank for the Quarter and Half Year ended 30th September, 2026 pursuant to the Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015 (as amended) To, The Board of Directors Punjab National Bank New Delhi 1. We have reviewed the accompanying statements of unaudited standalone financial results (“the Statement”) of Punjab National Bank (the "Bank") for the quarter and half year ended 30th September, 2026 attached herewith, being prepared and submitted by the Bank pursuant to requirements of regulation 33 and regulation 52 read with regulation 63(2) of SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015 as amended (“The Regulation”) except for the disclosures relating to “Pillar 3 dkkxuruas at 30th September, 2026 including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio under Basel III Capital Regulations" as have been disclosed on the Bank’s website and in respect of which a link has been provided in the aforesaid Statement and have not been reviewed by us. 2. This Statement, which is the responsibility of the Bank's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 "Interim Financial Reporting" ("AS 25"), issued by the Institute of Chartered Accountants of India (ICAI), the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3 We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement, A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
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4. These unaudited standalone financial results incorporate the relevant returns of 20 domestic branches, 1 treasury and 1 credit card division reviewed by us, 1 international banking unit situated in Gujarat International Finance Tec-City (GIFT City) reviewed by an audit firm specifically appointed for this purpose, 1 foreign branch situated in Dubai reviewed by an overseas auditor specifically appointed for this purpose and un-reviewed returns in respect of 10,208 branches and other offices. In the conduct of our review, we have relied upon the review reports in respect of non-performing assets submitted by external concurrent auditors (including retired employees of the Bank) of 553 domestic branches, in-house concurrent auditors of 729 branches to the Bank Management. These review reports cover 69.35 % including 43.08 % which has been covered by us, of the advances portfolio of the Bank (excluding the advances of asset recovery branches and outstanding food credit) and 82.91 % including 74.48 % which has been covered by us, of the non-performing assets of the Bank as at 30th September, 2026. Apart from these review reports, in the conduct of our review, we have also relied upon various information and returns received from un-reviewed branches/other offices of the Bank and generated through centralized database at the Bank’s Head Office. 5 Based on our review conducted as above, subject to limitation in scope as mentioned in Para 4 above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results read together with the notes thereon, prepared in accordance with applicable accounting standards and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 and 52 read with regulation 63(2) of the SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015 as amended including the manner in which it is to be disclosed, except for the disclosures relating to consolidated Pillar 3 disclosure as at September, 30, 2026, or that it contains any material misstatement or that it has not been prepared in accordance withthe relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters. Our conclusion is not modified in respect of this matter. For Ummed Jain & Co. Chartered Accountants FRN: 119250W For N K Bhargava & Co. Chartered Accountants FRN: OO0429N ,q b6/ + a DELHI + OO0429N ]f) iI Jain Parhner CA N K Bhargava (M.No. 137970) UDIN: 26137970QNRNA15730 Partner (M.No. 080624) UDIN: 26080624BEWJOS4608 For Prem Gupta & Co, Chartered Accountants FRN: OO0425N rp For P A & Associates Chartered Accountants FRN: 313085E CA Rajan Uppal Partner (M.No. 097379) UDIN: 26097379HKNBAT6365 CA P S Panda Partner (M.No. 051092) U DIN: 26051092RTJYJD4119
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Ummed Jain & Co. Chartered Accountants 51, Snehdhara Jeevan Vikas Kendra Marg Andheri East Mumbai – 400 069 N K Bhargava & Co. Chartered Accountants C-31, 1“ Floor, Acharya Niketan C)pp. Pocket -1, Mayur Vihar Phase -1 New Delhi – 110 091 Prem Gupta & Co. Chartered Accountants 2342, Faiz Road, Karol Bagh New Delhi – 110 005 P. A. & Associates Chartered Accountants 12, Govind Vihar, Bomikhal Bhubaneswar – 751 010 Independent Auditors' Limited Review Report on Unaudited Consolidated Financial Results of Punjab National Bank for the Quarter and Half year Ended 30th September 2026 pursuant to the Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015 (as amended) To, The Board of Directors Punjab National Bank New Delhi 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results (’'the Statement") of Punjab National Bank ("the Parent" or "the Bank") and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group"), its share of net profit/(loss) after tax of its associates for the quarter and half year ended 30th September, 2026 attached herewith, being submitted by the Parent pursuant to the requirement of Regulation 33 and 52 of the SEBI read with regulation 63(2) (Listing Obligations and Disclosures Requirements) Regulation, 2015, as amended (“The Regulations”) except for the disclosures relating to consolidated Pillar 3 disclosures as at 30th September, 2026 including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as have been disclosed on the Bank’s website and in respect of which a link has been provided in the Statement and have not been reviewed by us. 2. This Statement, which is the responsibility of the Parent’s Management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 "Interim Financial Reporting" ("AS 25"), issued by the Institute of Chartered Accountants of India (ICAI), the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the
Page 20
Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opInIon. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBt (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended to the extent applicable. 4. The financial results of the Parent incorporate the relevant returns of 20 domestic branches and 1 treasury division and 1 credit card division reviewed by us, 1 international banking unit situated in Gujarat International Finance Tec-City (GIFT City) reviewed by an audit firm specifically appointed for this purpose, 1 foreign branch situated in Dubai reviewed by an overseas auditor specifically appointed for this purpose. In the conduct of our review of the Parent, we have also considered the review reports in respect of non-performing assets submitted by the external concurrent auditors (which includes retired employees of the Bank) of 553 domestic branches and in-house concurrent auditors of 729 branches to the Bank Management of the Parent included in the Group. Apart from these review reports, in the conduct of our review, we have also relied upon various information and returns received from un-reviewed branches/other offices of the Bank and generated through centralized database at the Bank's Head Office. 5. The Statement includes the results of the following entities: Parent: Punjab National Bank Subsidiaries: i. PNB Gilts Limited (Reviewed) ii. PNB Investment Services Limited (Not Reviewed) iii. PNB Cards and Services Limited (Not Reviewed) iv. Punjab National Bank (International) Limited UK (Not Reviewed) v. Druk PNB Bank Limited, Bhutan (Not Reviewed) Associates: i. PNB Metlife India Insurance Company Limited (Not Reviewed) ii. PNB Housing Finance Limited. (Not Reviewed) iii. Everest Bank Limited, Kathmandu, Nepal (Not Reviewed) iv. Himachal Pradesh Gramin Bank ( Reviewed) v. Punjab Gramin Bank ( Reviewed)
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vi. HaryanaGramin Bank (Reviewed) vii. Assam Gramin Bank ( Reviewed) viii. West Bengal Gramin Bank (Not Reviewed) ix. Manipur Rural Bank ( Reviewed) x. TripuraGramin Bank ( Reviewed) xi. BiharGramin Bank (Not Reviewed) 6. Based on our review conducted and procedures performed as stated in paragraph 3 to 5 above and based on the consideration of the review reports of internal inspection teams and reports of other auditors referred to in paragraph 7 to 10 below, nothing has come to our attention that causes us to believe that the accompanying Statement read with notes to unaudited consolidated financial results, prepared in accordance with the recognition measurement principles laid down in the aforesaid Accounting Standard, RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and 52 read with regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, except for the disclosures relating to consolidated Pillar 3 disclosures as at September 30 , 2026 or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters. Other Matters We did not review the interim financial information of 1284 (including 2 overseas) branches included in the unaudited standalone interim financial statements of the parent included in the Group, whose results reflect total advances (asset) of Rs. 3,81,647.05 Crore as at 30th September 2026 and total revenues of Rs. 13,850.55 Crore for the six months ended 30th September 2026, as considered in the respective unaudited standalone interim financial results included in the Group. 7. The interim financial results of these branches have been reviewed by the internal inspection teams or other auditors whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these branches and offices, is based solely on the report of such inspection teams and other auditors. 8. The Unaudited Consolidated Financial Results includes the interim financial results of 10,208 branches and other offices included in the unaudited standalone results of the parent included in the Group which have not been reviewed, whose results reflect total advances (asset) of Rs. 4,10,939.56 Crore as at 30th September 2026 and total revenues of Rs. 16,792.30 Crore for six months ended 30th September, 2026, as considered in the respective unaudited standalone financial results of the parent included in the Group. 9. We did not review the interim financial information of 1 Subsidiary which have been reviewed by their auditors whose interim financial results reflect total assets of Rs. 26,318.78 Crore as at
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30th September, 2026, revenue of Rs. 871.67 Crore for the six month ended 30toh September, 2026 as considered in the consolidated financial results. The Unaudited Consolidated Financial Results also includes 6 associates whose share of net profit / (loss) for consolidation is Rs. 240.47 Crore for the six month ended 30th September, 2026 whose interim financial results have been reviewed by other auditors. These reports have been furnished to us by the Management and our conclusion on the statement, in so far as it relates to the amounts and disclosures included in respect of these associates is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. 10. The Unaudited Consolidated Financial Results includes the interim financial results of 4 Subsidiaries which have not been reviewed by their auditors, whose interim financial results reflect total assets of Rs. 19,264.53 Crore as at 30th September, 2026, revenue of Rs. 547.03 Crore for the six month 30th September, 2026 as considered in the consolidated financial results. The Unaudited Consolidated Financial Results also includes the Group’s share of Net Profit / (Loss) of Rs. 614.21 Crore for the six month ended 30th September, 2026, as considered in the Unaudited Consolidated Financial Results, in respect of 5 associates, based on interim financial results which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group. Our conclusion is not modified in respect of above matter. For Ummed Jain & Co. Chartered Accountants FRN: 119250W For N K Bhargava & Co. Chartered Accountants FRN: OO0429N @ {§ 4\ DELHI + OO0429N + bbz khil Jain Pgrtner -V\ CA N K Bhargava (M.No. 137970) UDIN: 26137970NKBEB02647 Partner (M.No. 080624) UDIN: 26080624LAYGDM5918 For Prem Gupta & Co, Chartered Accountants FRN: OO0425N For P A & Associates Chartered Accountants FRN: 313085E Ca 5;.f CA P S PandaCA Rajan Uppal Partner (M.No. 097379) UDIN:260973791TrrLL4277 Partner (M.No. 051092) UDIN: 26051092MTOBAS9887
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N. K. BHARGAVA & CO. Chartered Accountants To, BSE Ltd / NSE Ltd / Debenture Trustees Sub: Security Cover Certificate for the quarter ended on September 30, 2026. Based on examination of books of accounts and other relevant records/documents, we hereby certify that: a) Punjab National Bank has vide its Board Resolution and information memorandum/ offer document and under various Debenture Trust Deeds, has issued the following listed debt securities : Sno I ISIN I Date of Issue 1 Private I Secured/ I Amount Placement/ I Unsecured 1 (in Public Issue 1 1 Crores) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 INE160A08 142 INE160A08 175 INE160A08191 INE160A08209 INE160A082 17 INE160A08225 INE160A08233 INE160A0824 1 26.12.2019 11.11.2020 18.11.2021 09.12.2021 17.01.2022 06.07.2022 21.09.2022 01.12.2022 23. 12.2022 Private Placement Private Placement Private Placement Private Placement Private Placement Private Placement Private Placement Private Placement Private Placement Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured 1500.00 1500.00 1919.00 2000.00 1971.00 2000.00 658.00 4000.00 INE160A08258 INE160A08266 INE160A08274 INE160A08282 N INE160A08308 INE160A0831 6 INE160A08324 582.00 974.00 3090.00 3000.00 11 53.00 1859.00 3000.00 2950.00 32156.00 27.03.2023 30.06.2023 27.09.2023 28.12.2023 22.03.2024 23.12.2024 14.02.2025 TOTAL Private Placement Private Placement Private Placement Private Placement Private Placement Private Placement Private Placement Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured b) Security cover for listed unsecured debt securities: The financial information for the period ended 30-09-2026 has been extracted from the books of accounts for the period ended 30-09-2026 and other relevant records of Punjab National Bank; 11 The Security Cover in the format as specified by SEBI vide its Circular No. SEBI/HO/DDHS- PoD3/P/CIR/2024/46 dated May 16, 2024 is herein given as Annexure I.
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The Security Cover certificate is being issued in consonance with SEBI regulations and shall have no effect on the seniority of such instruments and all other terms and conditions applicable for the issue of the bonds as specified by RBI master directions no. RBI/DOR/2025-26/151 DOR.CAP.REC.70/21-01-002/2025-26 dated November 28,2026 for BASEL III Compliant bonds, as amended from time to time, and the terms of Issue c) Compliance of all the covenants/terms of the issue in respect of listed debt securities of the listed entity We have examined the compliances made by the listed entity in respect of the covenants/terms of the issue of the listed debt securities (NCD’s) and certify that the such covenants/terms of the issue have been complied by the listed entity except as stated below' NIL For M/S NK BHARGAVA & Co. Chartered Accountants Mem. No. 080624 UD IN: 26080624UGDOY03424 Date : Oct 1 6. 2026 Place: New Delhi
Page 25
Column B Column A Particular s Description of asset for which this certificate relate ASSETS Property, Plant and Equipment Capital Work-in Progress Right of Use Assets Goodwill Intangible Assets Intangible Assets under Development @ 61at DtLHt oooh®N M Investrnents Colum n I Colum n (: i 1 [) i i Colum n E"1 Column Fit Exclusi ve Charge PariPassu Charge x 1 ive I Charge Charge Assets shared by pan passu debt holder (includes debt for \vhich this certificate is issued & other debt with pari passu charge) Debt for wllich this certificate being issued Debt for \vhich this certificate being issued Other Secure d Debt Yes/ No 1 Book ValueBook Value Book Value + -eB PUNJAB NATIONAL BANK HO : TREASURY DIVISION Colum n 1 Column K J Column G" I Colum n 1 Column Fri 1 l„i, Column M 1 Column N Column OColumn I Eliminati Related to only those items covered by this certificatePariPassu Charge Assets not offered as Security (Total C to H)on (amount in negatIve ) Other assets on which there is part- Passu charge (excludin g ltelrrs covered in column F) debt alnount considered more than once (due to exclusive plus part passu charge) Carrying /book value for exclusive charge assets where market value is not Carrying value/book value for pari passu charge assets where market value is not ascertainable or applicable Total Value (=K+L+M+ N)ascertainablc or applicable (FOr Market Value for Assets charged on Exclusive basis Market Value for Pari passu charge Assets-"' Egg Bank Balance. DSRA lnarket value is not applicable) (For Eg. Bank Balance. DSRA market value is not applicable) Relating to Column F Book Value NOT APPLICABLE
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PUNJAB NATIONAL BANK HO : TREASURY DIVISION Loans Inventories Trade Receivables Cash and Cash Equivalents Bank Balances other than Cash and Cash Equivalents Others Total LIABILITIE S Debt securities to which this certificate pertains NOT APPLICABLE Other debt sharing part- passu charge with abovc debt Other Debt Subordinated debt Borrowings Bank not to be fi]led Debt Securities Others Trade payables
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PUNJAB NATIONAL BANK HO : TREASURY DIVISION Lease Liabilities Provisions Others Total NOT APPLICABLE Cover on Book Value Cover on Market Value" :'--'":'’' I I I Pari-Passuurl ly SecurityV :- ’.-- I I I Cover Ratioalia 1 This column shall include book value of assets having exclusive charge and outstanding book value of debt for which this certificate is issued. ii This column shall include book value of assets having exclusive charge and outstanding book value of all corresponding debt other than column C iii This column shall include debt for which this certificate is issued having any pari passu charge - Mention Yes, else No. iv This column shall include a) book value of assets having pari-passu charge b) outstanding book value of debt for which this certificate is issued and c). other debt sharing part- passu charge along with debt for which certificate is issued. v This column shall include book value of all other assets having pari passu charge and outstanding book value of corresponding debt. vi This column shall include all those assets which are not charged and shall include all unsecured borrowings including subordinated debt and shall include only those assets which are paid-for. vii in order to match the liability amount with financials, it is necessary to eliminate the debt which has been counted more than once {included under exclusive charge column as also under part passu). On the assets side, there shall not be elimination as there is no overlap. viii Assets which are considered at Market Value like Land, Building, Residential/ Commercial Real Estate to be stated at Market Value. Other assets having charge to be stated at book value/Carrying Value IX The market value shall be calculated as per the total value of assets mentioned in Column O €®3