FITCH report, change in ratings of these banks – Fittch report changed the rating of these banks

Global rating agency Fitch on Tuesday increased two public sector lenders Punjab National Bank (PNB) and Union Bank of India from BB Minus to B Plus in view of the improvement in risk profiles.
This has confirmed the long -term Issuor rating for PNB of New Delhi and Union Bank of Mumbai to be BBB Minus.

Fitch said in a statement that there is a favorable operating environment for Indian lenders in the country. Due to this, there is a strong possibility of growth of banks according to mid -term in a comprehensive and diverse economy. The agency has estimated that the economic growth rate in the financial year 2025 ending March 2025 and the financial year 2026 will be more than 6 percent. It will support domestic demand, government’s capital expenditure and improving the use of capacity. This growth will support India’s banks to do sustainable and profitable trading at mid -term, if they manage the risk effectively.

First Published – March 11, 2025 | 10:08 pm IST