Hot Pursuit
Bank of India announced that S&P Global Ratings has assigned ratings, including an Issuer Credit rating of BBB (long-term) and A-2 (short-term), with a stable outlook, reflecting an adequate capital position and solid funding/liquidity, and also assigning a 'bbb-' rating which reflects the likelihood of extraordinary support from the government of India; S&P Global also assigned a Long-term Issuer Credit rating of BBB and a Short-term Issuer Credit rating of A-2, both with a stable outlook, alongside an Issuer Credit Rating of BBB/Stable/A-2, and Standard & Poor's assigned ratings of BBB/A-2 with a stable outlook, noting that the outlook reflects that on the sovereign and factors in a very high likelihood of government support; S&P Global Ratings expects a Risk-Adjusted Capital (RAC) Ratio of 7.0%-7.5% over the next two years, with an actual figure of 8.8% as of March 31, 2026, and projects credit costs of 0.3% for fiscal 2027, 0.6% for fiscal 2028, and 0.7% for fiscal 2029, while anticipating Nonperforming Loan Formation of 1.0% over the next two years.