ratings, indian banks, financial institutions: Banknet India

Ratings of major Indian financial institutions/commercial Banks

Standard & Poor’s (S&P) Ratings Services on 27th October 2003, has affirmed the counterparty credit ratings of 12 financial institutions/commercial Banks in India. State Bank of India leads the list with short-term foreign currency rating affirmed at B, reflecting the bank's sound business profile. In the second place ICICI Bank Ltd's foreign currency rating has been affirmed at BB with a negative outlook.

It is important to note that in September 2003, S&P had raised the outlook on India's banking system to stable from negative because of improving asset quality, profitability and capital adequacy.

Standard & Poor's Ratings


	Foreign Currency
State Bank of India	--/--/B
ICICI Bank Ltd.	BB/Negative/B
Industrial Development Bank of India	BB/Negative/B
Bank of Baroda	BB/Negative/B

	Local Currency
Bank of India	'BBpi'
Canara Bank	'BBpi'
Corporation Bank	'BBpi'
Oriental Bank of Commerce	'BBpi'
Central Bank of India	'BBpi'
Indian Overseas Bank	'BBpi'
Punjab National Bank	'BBpi'
Union Bank of India	'BBpi'

RATING OF STATE BANK OF INDIA...Read Details

RATING OF ICICI BANK...Read Details

RATING OF INDUSTRIAL DEVELOPMENT BANK OF INDIA...Read Details

RATING OF BANK OF BARODA...Read Details