Fitch Ratings has upgraded the Support Ratings of five nationalised banks — Corporation Bank, Indian Bank, Andhra Bank, Vijaya Bank and Dena Bank to '3' from '4'. The Support Rating of Vijaya Bank has been removed from 'Rating Watch Positive'. The upgrades reflect the Centre's continued strong propensity and commitment towards maintaining healthy financial profiles for government-owned banks, and the Government's improved ability to do this based on better prospects for its fiscal position, said the Fitch report. The Government's current target is to ensure a minimum Tier-I ratio of eight per cent for government-owned banks by end-March 2011 through an infusion of Rs 16,500 crore in common equity or hybrids. The government support has been proactive as opposed to bailing out banks in distress, which strengthens expectation that future support will be forthcoming. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints. Nothing in this article is, or should be construed as, investment advice. |
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http://in.groups.yahoo.com/group/investwise/
INVESTMENTS IN INDIA
We are low-risk, long-term investors.
Stocks, mutual funds and the entire investment gamut. Only financing/investment avenues in India will be discussed.
For any assistance, questions or improvement ideas, contact investwise-owner@yahoogroups.co.in
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http://in.groups.yahoo.com/group/investwise/
INVESTMENTS IN INDIA
We are low-risk, long-term investors.
Stocks, mutual funds and the entire investment gamut. Only financing/investment avenues in India will be discussed.
For any assistance, questions or improvement ideas, contact investwise-owner@yahoogroups.co.in
****************************************************************
NEW! ==== Check our LINKS and FILES sections for a world of information. REGULARLY UPDATED.
NEW! ==== Check "Tracklist" in Links and Files sections for Investment Ideas.
****************************************************************
.
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