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 |
India's first space-based solar observatory, Aditya-L1, has helped scientists understand more about how solar eruptions…
Tamil Nadu was the leading state in terms of publishing research in 2024-25 according to…
Equitas Small Finance Bank has appointed Mr. Balaji Nuthalapadi as its interim Chief Executive Officer…
Sikkim's Soreng district has become India's first notified Organic Fisheries Cluster under the Pradhan Mantri…
Greenland’s parliament has passed a tripartite security agreement between Denmark and the United States to…
Collins Dictionary has chosen ‘mogging’ as its word of the year for 2026. The slang…