Punjab National Bank — Credit Ratings, 15-12-2025: Credit Rating

Brickwork Ratings (BWR) has reaffirmed Punjab National Bank's (PNB) Additional Tier 1 Bonds (totaling Rs. 3,000 crore) at BWR AA+/Stable. This rating reflects PNB's consistent improvement in asset quality, robust capitalization, strong liquidity, and ongoing support from the Government of India. As the third-largest public sector bank, its systemic importance is a key factor. The outlook remains Stable.