State Bank of India 'BBB-/A-3' Ratings Affirmed On Improving Asset Quality; Outlook Stable

State Bank of India (SBI) is likely to sustain improvements in asset quality, supported by India's robust economic growth. We expect the risk-adjusted capital (RAC) ratio of the India-based public-sector bank to dip below 5% due to strong credit growth. We affirmed our 'BBB-' long-term and 'A-3' short-term issuer credit ratings on SBI. At the same time, we affirmed our 'BBB-' long-term issue rating on the bank's senior unsecured notes. The stable rating outlook reflects our view that the bank will maintain its strong market position and funding profile over the next 24 months. SINGAPORE (S&P Global Ratings) Sept. 9, 2022--S&P Global Ratings today affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on SBI. At the same time,

...September 9, 2022 - State Bank of India (SBI) is likely to sustain improvements in asset quality, supported by India's robust economic growth. - We expect the risk-adjusted capital (RAC) ratio of the India-based public-sector bank to dip below 5% due to strong credit growth. - We affirmed our '###-' long-term and 'A-3' short-term issuer credit ratings on SBI. At the same time, we affirmed our '###-' long-term issue rating on the bank's senior unsecured notes. - The stable rating outlook reflects our view that the bank will maintain its strong market position and funding profile over the next 24 months. SINGAPORE (S&P Global Ratings) Sept. 9, 2022--S&P Global Ratings today affirmed its '###-' long-term and 'A-3' short-term issuer credit ratings on SBI. At the same time, we affirmed our '###-' long-term issue rating on the bank's senior unsecured notes. The outlook on the long-term rating is stable. SBI's asset quality should continue to improve. India's robust economic growth and recovery...

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