Coronavirus impact: Fitch cuts banks' score of operating environment

Increasing challenges from the pandemic are expected to worsen an already difficult operating environment, Fitch said

Faced with the adverse fallout of COVID-19 on the banking sector in India, Fitch on Thursday revised its mid-point score for banks’ operating environment to 'BB' from 'BB+' earlier.
 

Increasing challenges from the pandemic are expected to worsen an already difficult operating environment, it said. ICICI Bank and Axis Bank are susceptible to a downward viability rating pressure, even though they have better income and capital buffers than their peers.