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ICRA expects bank stress to continue for three years

ICRA lowered the ratings of Oriental Bank of Commerce's outstanding long-term bonds, including Tier-I capital bonds

BS Reporter  |  Mumbai 

Rating agency ICRA on Friday said the stress in banks would likely impact earnings and solvency over the next two-three years. It also downgraded the long-term rating of United Bank of India (UBI) to ‘negative’ from ‘stable’ and lowered the ratings of Oriental Bank of Commerce (OBC)’s outstanding long-term bonds, including Tier-I capital bonds. While maintaining that stress in the banking sector would continue for the next few years, ICRA said even to maintain a credit growth of 10-12 per cent per annum between 2015-16 and 2018-19, public sector banks ...

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First Published: Sat, February 20 2016. 00:25 IST
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