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Tuesday, November 3, 2015

Indian Overseas Bank and Bank of India look particularly weak-report by Moody's Investors Service

Global rating agency Fitch on Tuesday said the asset ratio of banks may improve marginally to 10.9 in fiscal year 2015-16 from 11.1 per cent clocked in the last fiscal year.
"The non performing loan growth will slow down further with cyclical recovery, but a moderate pick-up in loan growth may provide support," said rating firm.
Fitch's view follows Moody's Investors Service 's move to revise its outlook on banks to "stable" from "negative".
However, Fitch believes non-performing loan (NPL) recoveries will be time-consuming.
"Most state banks are at a risk of some core capital impairment under the agency's stress test. Indian Overseas Bank and Bank of India look particularly weak," added rating agency.
Performance of large private banks is significantly superior despite recent asset-quality pressures, said Fitch.
Meanwhile, Bank Nifty, NSE index for banking stocks, gained 0.5 per cent in trade on Tuesday.

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