Credit rating agency, CRISIL has assigned ‘AA+’ rating with a stable outlook to the proposed Rs 500 crore tier-II bonds issue of public sector lender United Bank of India. The rating action has taken into account the continuance of strong support from the government, the bank’s healthy resource profile and adequate capitalization.
Besides, this is the first tier-II capital instrument issued in the domestic market under the Basel III capital regulations.
United Bank of India has emerged as a strong and efficient banking organization over the years and plays an integral role in the socio-economic development of the Eastern and North-Eastern States of the country.
