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More trouble for IDBI Bank, as Icra downgrades its debt instruments

The agency has also kept the lender's ratings under watch with negative implications

Press Trust of India  |  Mumbai 

Domestic rating agency Icra on Tuesday said it has downgraded various debt instruments of state-run IDBI Bank on the back of weak profitability and deteriorating asset quality, which have resulted in erosion of its capital. The agency has also kept the lender's ratings under watch with negative implications. "The rating downgrade takes into account the bank's substantially weak operating and financial performance during fourth quarter of financial year 2017 and in the financial year 2017 overall, which has resulted in a significant erosion of its capital (CET-I)," Icra ...

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First Published: Tue, May 23 2017. 15:56 IST
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