Punjab National Banks credit ratings have been affirmed by India Ratings and Research as follows: Long-Term Issuer Rating at IND AAA/Stable, Additional Tier 1 Bonds at IND AA+/Stable, and Fixed Deposits at IND AAA/Stable. The size of the AT1 bonds is INR 137.95 billion and Basel III Tier 2 bonds is INR 195.00 billion (reduced from INR 210.00 billion).