Will PNB stage strong Q3 FY26 show? What analysts expect in upcoming results

PNB Q3 FY26 Results Preview: Punjab National Bank -- the country's third largest public sector lender by market value -- is expected to stage a largely steady financial performance as it reports its financial results for the final three months of 2025 on Monday, January 19. Analysts expect the PSU bank's profit to increase with steady growth in business on the back of a slight improvement in asset quality.

PNB Q3 FY26 Earnings: Profit and interest income expectations

PNB is expected to register a net profit of Rs 4,780 crore for the quarter ended December 31, which translates to a 6.0 per cent increase over its profit for the corresponding period a year ago, according to Zee Business research.

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The analysts expect its net interest income (NII) -- a key measure of a lender's revenue determined by the difference between interest earned and interest paid -- to decline about 2.0 per cent to Rs 10,840 crore for the third quarter of the current financial year.

They peg the PSU bank's quarterly provisions at Rs 630 crore.

PNB asset quality

Analysts expect PNB's asset quality to improve.

Asset quality is measured by the percentage of bad loans in total loans.

According to Zee Business research, PNB's gross net non-performing assets (GNPAs) are estimated to be at 3.2 per cent of its total loans in Q3, declining from 3.5 per cent in Q2.

Zee Business analysts expect the lender's net non-performing assets to decline to 0.3 per cent in the December quarter from 0.4 per cent in the previous three months.

PNB Q3 margin estimate

The analysts expect PNB's Q3 net interest margin -- a key measure of profitability -- to remain flat.

For the quarter ended September 30, PNB's global net interest margin was recorded at 2.60 per cecnt domestic NIM at 2.72 per cent.

The lender expected to see further improvement from the third quarter onwards on account of deposit repricing and cash reserve ratio (CRR) benefits.

Loan and credit growth

PNB's growth in loans and deposits is estimated to stay around 10.3 per cent and 9.6 per cent, respectively.

PNB share price vs Nifty50 vs Nifty Bank YTD and in a year

As of Friday, PNB's shares have risen around 6.0 per cent so far in 2026, outperforming a 1.6 per cent decline in the Nifty50 and a half per cent gain in the Nifty Bank.

At the current levels, the PSU bank stock has rallied 31 per cent in a year, while the Nifty50 and Nifty Bank gauges have risen 10.4 per cent and 21.7 per cent, respectively.

PSU banks like PNB carry a weightage of about 30 per cent in the Nifty Bank.