Moody's upgrades outlook on IDBI Bank to 'positive' from 'stable'

Expects improvement in capital position and stable asset quality

Global rating agency Moody's has upgraded the outlook on public sector lender IDBI Bank to 'positive' from 'stable' on expectation of improvement in capital position and stablilisation of asset quality.

Ratings also affirmed the long-term local and foreign currency bank deposit rating of IDBI Bank Ltd (IDBI) at B1. It also affirmed the bank's baseline credit assessment (BCA) at caa1 and the counterparty risk assessment (CRA) at Ba3 and revised the outlook on IDBI's DIFC branch (Dubai branch) to positive from stable.

The positive outlook reflects the upward pressure that could develop on the bank's long-term rating. This could happen if credit