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 |
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