ICRA reaffirms LAA+ to UTI's subordinated bond prog

New Delhi, July 14 (UNI) Credit rating agency ICRA today reaffirmed the LAA+ rating to the UTI Bank's Subordinated Bond Programmes (SBP), indicating high credit-quality.

Meanwhile, ICRA also reaffirmed its A1+ rating to the bank's Rs 2,500 crore Certificates of Deposit Programme of UTI indicating highest credit quality.

The ratings factor in the bank's improving profitability supported by strong rise in net interest income, healthy fee income profile, all-round growth in credit, focus on strengthening its asset quality and adequate capitalisation.

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