• search

ICRA reaffirms high credit quality rating to UBI's bonds prog

Written by: Staff
|

New Delhi, Oct 23 (UNI) ICRA has reaffirmed the LAA+ rating to the outstanding one billion rupees long-term subordinated bond programme of the Union Bank of India (UBI) while maintaining A1+ rating to the existing Rs 20 billion Certificates of Deposit Programme of the bank.

The ratings indicate high-credit-quality and low risk of both the instruments of the bank.

The ratings take into account UBI's improving core operating profitability, its satisfactory capitalisation and liquidity. The rating also factors in the relatively lower, though growing fee based income, as compared to other banks, moderate asset quality, the market risk on the bank's investment portfolio in a rising interest rate scenario and the bank's need to raise capital for meeting its growth plans.

UBI's significant position in the Indian financial system as the seventh largest bank in the country, and the Government of India's (GoI) majority ownership in the bank also support the ratings.

Majority owned by the GoI, UBI is the seventh largest commercial bank in the country with an asset base of Rs 88,600 crore as on March 31, 2006. UBI has a network of 2,085 branches.

UNI PKS SRS BS1544

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X

Loksabha Results

PartyLWT
BJP+000
CONG+000
OTH000

Arunachal Pradesh

PartyLWT
CONG000
BJP000
OTH000

Sikkim

PartyLWT
SDF000
SKM000
OTH000

Odisha

PartyLWT
BJD000
CONG000
OTH000

Andhra Pradesh

PartyLWT
TDP000
YSRCP000
OTH000

AWAITING

Nageshwar Rao - TRS
Khammam
AWAITING
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more