BOI's market share has diminished due to the Indian bank's focus on consolidating its balance sheet and reducing its reliance on domestic and foreign corporate loans. We now expect its growth to be broadly in line with the industry. We believe the bank's funding profile is sustainably improving on the back of balance sheet consolidation and increased share of granular and low-cost domestic deposits. We are affirming our 'BB+' long-term and 'B' short-term issuer credit ratings on BOI. The stable outlook reflects our expectation that the likelihood of government support for the bank will remain very high. On Nov. 20, 2019, S&P Global Ratings affirmed its 'BB+' long-term and 'B' short-term issuer credit ratings on Bank of India (BOI). The
