Punjab National Bank reported strong Q2 business updates with advances growth of around 15% YoY and rising UPI transaction volumes, while MD and CEO Ashok Chandra discussed deposit growth, FCNR mobilization and the…

Punjab National Bank reported strong Q2 business updates with advances growth of around 15% YoY and rising UPI transaction volumes, while MD and CEO Ashok Chandra discussed deposit growth, FCNR mobilization and the broader economic cycle.

Wed 7 Oct 2026

Advances growth YoY

15 percent

Credit deposit ratio

over 75 percent

UPI transaction growth YoY

24 percent

FCNR deposits mobilized

2.7 billion USD

FCNR mobilization target

2.5 billion USD

Heard on business television between 09:29:06 - 09:32:06 IST.

• Advances grew around 15% YoY, which Shivam noted was slightly moderate compared to other banks' business updates.
• Deposit growth pace slowed due to industry-wide competitive intensity, pushing the credit-deposit ratio above 75%.
• UPI transaction volumes grew around 24% YoY in Q1 FY27; impact of newly levied MDR on some UPI transactions will need to be watched.
• MD and CEO Ashok Chandra said consistency has been maintained for the last one and a half years across key parameters, growth, asset quality and profitability, and expects the trend to continue in coming quarters and years.
• Chandra said PNB mobilized 2.7 billion USD via the FCNR(B) deposit scheme against an initial target of 2.5 billion USD, which helped reduce cost of deposits, with the impact to be seen this quarter and ahead; he also cited India's Q1 FY27 GDP growth of 7.8% versus a global average of around 3 to 3.3%.

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