Bank Of India has informed the Exchange about Credit Rating
BANKINDIA · price
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Awaiting price reaction for this filing.
Fitch Ratings has affirmed Bank of India's Long-Term Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, equalised with India's sovereign rating. It also upgraded the bank's standalone Viability Rating (VR) by one notch to 'bb' from 'bb-', citing improvements in risk profile, asset quality, capitalisation, and profitability. The Government Support Rating was affirmed at 'bbb-'. The upgrade reflects that the impaired loan ratio fell 100 basis points to 2.3% in 9MFY26, credit costs dropped to 0.4% of loans from 1.0% in FY25, and the CET1 capital ratio rose 50 basis points to 15.3%. Fitch also noted a positive outlook on the Indian banking sector's operating environment due to stronger RBI regulation and supervision.
This is a positive development for Bank of India shareholders — the upgrade of the Viability Rating signals improving standalone financial strength, while the affirmed investment-grade 'BBB-' rating reflects continued strong government support. The news is likely to be viewed favourably by the market and could support valuation.