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 |
In an important development in the banking sector, the Government of India has extended the…
In a major endorsement of India’s digital payments ecosystem, Google has launched its first-ever credit…
The Global Investment Risk and Resilience Index 2025, released by Henley & Partners in collaboration…
Multinational corporations continue to dominate the global economy, and the 2025 Hurun Global 1000 Report…
Many countries around the world are known for their beautiful islands, which attract travellers, nature…
Every year, people around the world decorate Christmas trees with lights, ornaments, stars, and colorful…