 "The HFC's loan book currently stands at ~ 100 billion and the company aims to triple it to Rs 300 billion in three-four years")
Fitch has downgraded its support rating for ICICI Bank from ‘2’ to ‘3’ and revised the outlook on Axis Bank to ‘negative’ from ‘stable’.
The outlook on ICICI Bank is, however, ‘stable’.
Support ratings reflect expectation of a moderate probability of extraordinary state (government) support, if required. This is due to private ownership and lower systemic importance compared to larger banks.
The revision in ICICI’s support rating takes into account the constrained finances. A large number of weak government-owned banks — particularly those which are systemically important — will get priority in terms of timeliness of government
The outlook on ICICI Bank is, however, ‘stable’.
Support ratings reflect expectation of a moderate probability of extraordinary state (government) support, if required. This is due to private ownership and lower systemic importance compared to larger banks.
The revision in ICICI’s support rating takes into account the constrained finances. A large number of weak government-owned banks — particularly those which are systemically important — will get priority in terms of timeliness of government
