Strong business position supported by strong domestic franchise and good diversification in India Above-average funding and strong liquidity Adequate risk position Rapid loan growth in India, where our economic risk score is 5 Moderate capitalization and earnings Rising nonperforming loans Standard&Poor's bases its issuer credit rating (ICR) on SBI on the bank's "strong" business position, "moderate" capital and earnings, "adequate" risk position, "above-average" funding and "strong" liquidity, as our criteria define those terms. We consider the bank a government-related entity and believe it is likely to receive government support in times of need. However, our long-term ICR on SBI is one notch below the stand-alone credit profile (SACP) of 'bbb' but level with the sovereign rating on India
