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Global rating agency Standard and Poor’s (S&P) has affirmed State Bank of India’s long-term rating 'BBB-' on improving asset quality.
It also affirmed the short-term issuer credit rating 'A-3' and maintained stable outlook for the rating.
“The country’s largest lender is likely to sustain improvements in asset quality, supported by India's robust economic growth. The bank will maintain its strong market position and funding profile over the next 24 months”, the agency in a statement said.
“In base case, the bank's weak loans (non-performing loans and restructured loans) will decline to 3.0-3.5 per cent of total loans over the next
