Moodys Investors Service, Singapore upgrades Indian Overseas Bank Rating Outlook to Positive
Posted on: 11/Feb/2018 10:45:08 AM
Moody`s Investors Service, Singapore has upgraded the Rating Outlook on Indian Overseas Bank, a leading public sector bank in Southern India from `Stable` to `Positive` while affirming their ratings and their Hong Kong Branch.
The Outlook upgrade showcases the positive outlook and reflects Moody`s view on the expected evolution of the Bank’s Balance Sheet, including stabilization in asset quality, a moderate improvement in profitability metrics, and stable funding and liquidity position.
The positive outlook reflects the upward pressure that could develop on the Bank`s long term ratings, if credit fundamentals of the Bank - namely capital position continue to improve over the next 12-18 months due to capital infusion from the Indian Government.
Commenting on the recent upgrade in Rating Outlook, Mr. R Subramaniakumar, MD & CEO, Indian Overseas Bank said, "We are very pleased to receive an upgrade in Rating Outlook from Moody`s Investor Service, Singapore. The Bank has made a significant improvement-- a development that can be observed from the results of various actions taken by us. We are continuously working positively to improve the Bank`s overall performance. Moody`s overall upgrade on India reaffirms the positive perception of India and expectations of continued progress on economic and institutional reforms. "
