PNB Set to Exceed FY26 Loan Growth Target, Driven by Corporate Lending Boom

• PNB MD Ashok Chandra expects the bank to surpass its FY26 loan growth guidance of 11-12%, fueled by strong credit momentum.
• Corporate lending is a key driver, with sanctions reaching ₹3.15 lakh crore by December 31 (vs. ₹2 lakh crore last FY) and a ₹2 lakh crore pipeline.
• The bank is also focusing on balanced growth in RAM sectors, seeing revival in MSME and agriculture, and over 14% growth in housing loans.
• Modest 8.5% deposit growth was a conscious decision for profitability, with PNB using alternative funding and comfortable credit-deposit ratio.
• Net Interest Margins (NIMs) face pressure, revising Q4 guidance to 2.7-2.8%, but overall profitability targets remain on track.

Why It Matters: PNB is confident of beating its FY26 loan growth target, driven by corporate and RAM sector expansion despite NIM pressure.