Punjab National Bank has informed the Exchange about Credit Rating

Moody's reviewed Punjab National Bank's credit ratings on 10 June 2025 and kept all ratings unchanged. The long-term bank deposit rating stays at Baa3 with a stable outlook, supported by a two-notch uplift from the bank's standalone ba2 baseline credit assessment, reflecting Moody's view of a very high probability of Indian government support in times of need. PNB's asset quality has improved, with the gross NPL ratio falling to 3.9% in FY25 from 5.7% in FY24, while profitability rose to 0.9% of tangible assets and the CET1 capital ratio improved to 12.3% after a INR 50 billion QIP. The bank plans to raise a further INR 80 billion in FY26 (INR 40 billion AT1 and INR 40 billion Tier 2 bonds). A key risk flagged is the Supreme Court annulling JSW Steel's acquisition of Bhushan Power & Steel, where PNB is a lead lender and had received INR 30 billion — an adverse outcome could be credit negative.