Transcript of the Earnings Call with Analysts/Investors on Unaudited Reviewed Financial Results for Quarter ended 30th September, 2026

Ref No: PSB/HO/Shares Cell / 65 /2026-27 October 27, 2026 BSE Limited, National Stock Exchange of India Ltd., Department of Corporate Services, Exchange Plaza, C – 1, Block – G, 25th floor, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Fort, Mumbai – 400 051. Mumbai – 400 001. SYMBOL: PSB SERIES: EQ SCRIP ID : PSB SCRIP CODE : 533295 Dear Sir, Reg: Transcript of the Earnings Call with Analysts/Investors on Unaudited Reviewed Financial Results for Quarter ended 30th September, 2026 With reference to above and pursuant to the applicable provisions of SEBI (LODR) Regulations, 2015, we enclose the transcript of post results Earnings conference call for the Quarter ended September 30, 2026 held on October 19, 2026. The transcript of the Earnings conference call will also be uploaded on Bank's website. This is for your information and records Yours faithfully Saket Mehrotra Company Secretary Head Office: 21, Rajendra Place, New Delhi-110008 Corporate Office: NBCC Office Complex, Block 3, East Kidwai Nagar, New Delhi – 110023 Email: complianceofficer@psb.bank.in “Punjab & Sind Bank Q2 FY27 Earnings Con-call” October 19, 2026 MANAGEMENT: 1. Shri Swarup Kumar Saha – Managing Director and Chief Executive Officer 2. Shri Ravi Mehra – Executive Director 3. Shri Rajeeva – Executive Director 4. Shri Arnab Goswamy – Chief Financial Officer Moderator: Mr. Ganesh Shankanawar Moderator: Good afternoon, everyone. My name is Ganesh Shankanawar, the moderator for today's earnings call. I welcome and thank each one of you for joining us today for the Punjab & Sind Bank earnings call for Q2 FY27. Please note that this conference is being recorded and all participant lines will be in the listen only mode. There will be an opportunity for you to ask questions after the opening remarks by the management. Should you need any assistance during the conference call, please raise your hand on the WebEx panel or press *3# on your phone. I would now like to introduce the management of Punjab & Sind Bank. We have with us today, Shri Swarup Kumar Saha, Managing Director and Chief Executive Officer, Shri Ravi Mehra, Executive Director, Shri Rajeeva, Executive Director & Shri Arnab Goswamy, Chief Financial Officer. I would now like to hand over the conference to Shri Swarup Kumar Saha, MD & CEO of the Punjab & Sind Bank for the opening remarks after which, we will have the forum open for the interactive Q & A session. Thank you and over to you Sir. Mr. Swarup Kumar Saha: Yeah, thank you Mr. Ganesh. Good morning to all of you and welcome to this Q2 earnings call of Punjab & Sind Bank. Thank you for joining us. The Board of the bank has approved the reviewed results of the Bank as of September 2026 and the necessary results were uploaded on the stock exchanges along with the presentation. All of you must have already had the opportunity to go through the presentation. So just to set the context, I would like to present some of the highlights of the bank's performance for the September 2026 quarter. Overall business grew by over 15.73% and stood at Rs.2,79,231 crores, while deposits grew at 12.97% and the total deposit was at Rs.1,53,312 crores. Advances grew at a healthy rate of 19.28% and it stood at Rs.1,25,919 crores. So the bank continues to grow in terms of the business mix over 15% consistently over the last few quarters. The CD ratio of the bank was at 82.13%. Going forward, as per our guidance, we expect deposits to grow at between 13% to 14% and advances to grow at 18% to 20 %. So overall we expect that the CD ratio will be around 82 % over the next two quarters. Though CASA has grown at 7.5% YoY, its share has gone down. We know the challenges in maintaining CASA. We are making a lot of efforts. However, the ratio has slipped slightly to 28.83%. The focus of the bank's advances, of course, has been RAM, as we have been saying all along, and overall RAM advances have grown by over 31% and the share of RAM advances to the overall gross advances is now at 61.37%. As we have said earlier, our guidance is that the RAM advances percentage could be around 65% for the current year, and we will take it up to 70% by March 2028 (FY 2027-28). So we are on track, if you compare September-to-September numbers, you will find that the RAM percentage has gone from 55.15% to 61.37%. So we'll continue to work in that area. In some of the other areas on the business side, of course the growth has been evenly balanced between retail, agri and MSME. Retail has grown at 42%, Agri at 16%, MSME at 28.69 %. In terms of profitability & income, the healthy part of the Q2 result was that the net interest income has grown by 22%. I think that's a healthy sign which is going to take the bank forward to improve its margins, profitability, ROAs etc. The operating profit of the Bank has increased by 22% YoY, and it was at Rs.617 crores in Q2. The net profit has also increased at nearly 40% and stood at Rs.412 crores. So, we are seeing a slow and steady increase in our quarterly operating and net profits. This has been of course helped by a good 23.6% growth in the core fee income. We continue to monitor that, we continue to put a lot of strategies in improving our core fee income on the various products that we have, whether it is non fund business, whether it is cross-selling of third-party products, whether it is other service charges and we find that it is showing a good traction QoQ over the last few quarters. So, we'll continue to work on that. Of course, in view of the geopolitical situation and the hardening of yields, the treasury performance has been muted. In spite of that, our operating profit has increased by 22% to Rs.617 crores. In spite of comparatively lower recovery in written-off accounts compared to the previous quarter, we continue to show traction in the operating profits. This shows that the bank is slowly, but steadily trying to generate operating income through its core business, that is, deposits, advances and other areas, and not totally depend on the market orientations of the movement in the yields. The asset quality has also improved, our gross NPA is at 2.09 %, Net NPA continues to improve at 0.61%. PCR has also improved. Our capital adequacy also stands at 16.55%, with CET-1 at 15.49%. In terms of some of the efficiency ratios, our net interest margin has improved by 17 bps YoY to 2.77%. Return on assets has increased to 0.88% and return on equity has also increased to 13.21%. The cost-to-income ratio has also marginally declined in Q2, and we will continue to monitor that ratio in a big way by increasing our income overall. So, these were some of the highlights in terms of the guidance. We feel that the bank’s overall trajectory, as I said, would be focused on improving our deposit growth and our CASA percentage. We have made a lot of efforts in terms of various products, and we continue to focus on that. A lot of outreach programs are being carried out. We’ll be doing special campaigns for deposit mobilization. We continue to expect the gross NPA to be below 2% by the end of March. Net NPA, we have given a guidance of 0.65%, we are already at 0.61%. We’ll now continue to reduce it further. On recovery and upgradation, we have given a guidance of Rs.1,000 crores plus. We have already reached Rs.622 crores. So, we are on track in all our guidance areas & a lot of other transformational projects that we have been talking about are implemented. These are present in the slides. I would not like to repeat them. Therefore, we feel that the bank is now consistently performing and delivering on the various expectations that we had raised in the previous calls that we had. The bank continues to work on various other transformation projects like digital transformation, on collection efficiency, recovery management, our GIFT City branch is now just around the corner. It should be live and kicking around November end. We are also more or less ready with t [Showing first 8,000 characters — download PDF for full document]