ICRA reaffirms rating to Rs 5,000 cr CDP of SBoP

New Delhi, Sep 29 (UNI) Credit rating agency ICRA today reaffirmed the highest credit quality rating A1+ to the Rs 5,000 crore Certificate of Deposit Programme (CDP) of State Bank of Patiala (SBoP).

The rating reaffirmation shows the SBoP's strong franchise value in its areas of operations enabling a stable deposit base and sustained market position demonstrated in the growing credit portfolio.

The rating also factors in SBoP's superior core operating profits supported by low overhead expenses, comfortable capital adequacy, solvency and comfortable liquidity.

SBoP, an associate of State Bank of India (SBI), registered Rs 303 crore net profit during the year ended March 2006.

UNI SBA PV KN1535