Fitch Affirms Union Bank of India, PNB Rating at BBB- with Stable Outlook
Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Union Bank of India and Punjab National Bank (PNB) at ‘BBB-‘ with a stable outlook. The rating reflects strong government support, a favorable operating environment, and improved risk profiles. Additionally, the banks’ viability ratings (VR) have been upgraded from ‘b+’ to ‘bb-‘, highlighting their enhanced financial performance and asset quality.
| Summary/Static | Details |
| Why in the news? | Fitch Affirms Union Bank of India, PNB Rating at BBB- with Stable Outlook |
| Banks Rated | Union Bank of India & Punjab National Bank (PNB) |
| IDR Rating | ‘BBB-‘ (Stable) |
| Viability Rating (VR) | Upgraded to ‘bb-‘ from ‘b+’ |
| Government Support Rating (GSR) | ‘BBB-‘ |
| Government Ownership | Union Bank: 75%, PNB: 70% |
| Risk Profile Score | Upgraded to ‘b+’ from ‘b’ for both banks |
| Asset-Quality Outlook | Revised to Positive from Stable |
| Impaired-Loan Ratio | PNB: Fell to 4.1% (9MFY25) from 5.7% (FY24); Union Bank: Expected to decline further |
| Profitability Score | PNB: Revised to ‘bb-‘ from ‘b+’ due to strong financial performance |
Russia’s S-500 Missile System, officially known as 55R6M “Triumfator-M” or Prometey, is shaping the future…
India–Russia relations continue to evolve in a changing global order. Ahead of President Vladimir Putin’s…
India has many cities known for their unique identity, and some of them are famous…
Global credit rating agency Fitch Ratings has revised India’s GDP growth forecast for FY26 to…
In a landmark shift in Pakistan’s military command structure, Field Marshal Asim Munir has been…
India’s Smart Cities Mission (SCM), launched in 2015, is entering its final stretch with an…