Team Blitz India
NEW DELHI: Global ratings firm Fitchhas affirmed ratings of the public sector banks it rates and maintained a stable outlook for them. The rating decisions is in line with its sovereign rating to which these ratings are linked.
The ratings firm has affirmed the ratings of Canara Bank, State Bank of India, Bank of BarodaNew Zealand,and Bank of India New Zealand at BBB- Fitch has also Fitch has also affirmed the bank’s Viability Rating (VR) at ‘bb’ and Government Support Rating (GSR) of ‘bbb-‘.
The driving factors for SBI’s ratings are government support, strong operating environment, dominant presence, double digit loan growth, lower impaired loan ratio, strong profitability and dominance of deposits and modest capital buffers. For CanaraBank, it was also factors like strong franchise and growing risk appetite that helped.
