Punjab National Bank — Credit Ratings, 05-12-2025: Credit Rating

ICRA Limited has reaffirmed Punjab National Bank's credit ratings. Basel III Tier I Bonds hold [ICRA]AA+ (Stable), while Infrastructure Bonds and Fixed Deposits are [ICRA]AAA (Stable). Certificates of Deposit are reaffirmed at [ICRA]A1+. ICRA highlights PNB's sovereign ownership, robust deposits, strong liquidity, comfortable capital, and improving asset quality as key strengths supporting the Stable outlook. Ratings for matured bonds were withdrawn.