PNB: Bank eyes Rs 30 lakh crore milestone by March 2026; confident of beating target with profit-led growth
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The country's second-largest lender recorded a total business of Rs 27.19 lakh crore at the end of Q1 FY26, up 11.6% from a year ago.
According to news agency PTI, Chandra said, 'We may do better than our target and can touch Rs 30 lakh crore by March next year'. He further said that 'we are very mindful that whatever the top line we are going to build, it should add profit to my bank.'
The bank reported its highest-ever operating profit of Rs 7,081 crore in the first quarter.
Chandra said the bank is focused on ensuring that growth in deposits and credit adds to the bottom line. 'Bulk deposits have been brought down and corporate deposits curtailed to a great extent,' he said.
PNB has set a credit growth target of 11–12% and a deposit growth of 9–10% in FY26.
According to Chandra, the bank has a strong corporate loan pipeline of Rs 1.29 lakh crore in various stages of disbursement. 'We have shed low-yielding corporate loans and are now focusing on loans that contribute to operating profit,' he noted.
He added that corporate borrowers have been assured of quicker turnaround times. 'Anything that comes to the head office, within 15 days, we are going to communicate the decision. This has given a lot of confidence to the corporates,' he said.
The bank has created a dedicated project finance cell headed by a General Manager. MSME lending, which grew 17–18% last year, is expected to maintain that momentum. Chandra also expects 17% growth in core retail loans, including housing, vehicle, and education segments.
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Chandra stressed the importance of agriculture lending, especially to self-help groups (SHGs). 'We are seeing that this year, at least 30–40% growth should happen in the SHG portfolio,' he said, highlighting their role in supporting small and marginal farmers under priority sector lending. The bank is also focusing on food processing and rural infrastructure like godowns and cold storage.
PNB is focusing on mobilising low-cost CASA deposits, which are expected to exceed 38% of total deposits.
'Individual savings accounts are rising, making CASA a stable component,' Chandra said.
Despite a capital adequacy ratio (CRAR) of 17.5% and a common equity Tier I of 12.95%, PNB has board approval to raise Rs 8,000 crore through Tier I and Tier II bonds. 'We are not looking for capital raising as such... this is enough to sustain the credit growth of 11–12% for the year,' he added.
Established in 1894, PNB had 10,209 branches and 11,240 ATMs as of June 2025. The bank also operates internationally through a subsidiary in the UK and branches in Dubai, Hong Kong and other locations.
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