State Bank of India

Strong domestic franchise and good diversification in India. Above-average funding and strong liquidity. Moderate capitalization and earnings. Moderate risk position. The stable outlook on State Bank of India (SBI) reflects the outlook on the sovereign credit rating on India (BBB-/Stable/A-3). The stable outlook also reflects our expectation that the bank will maintain its financial profile over the next 24 months. We expect the rating on SBI to move in tandem with the sovereign credit rating on India. That's because the bank's stand-alone credit profile (SACP) is at the same level as the sovereign rating and the bank benefits from a very high likelihood of government support by virtue of its ownership and link to the government. We currently do not

...Moderate risk position. Outlook The stable outlook on State Bank of India (SBI) reflects the outlook on the sovereign credit rating on India (###-/Stable/A-3). The stable outlook also reflects our expectation that the bank will maintain its financial profile over the next 24 months. We expect the rating on SBI to move in tandem with the sovereign credit rating on India. That's because the bank's stand-alone credit profile (SACP) is at the same level as the sovereign rating and the bank benefits from a very high likelihood of government support by virtue of its ownership and link to the government....

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