Global rating agency, Moody’s Investors Service has affirmed Baa3 rating to IDBI Bank’s local long term bank deposit and foreign long term bank deposit. The rating agency has also affirmed P-3 rating to the bank’s local short term bank deposit rating and foreign short term bank deposit rating.
The rating affirmation reflects IDBI’s steady pre-provision profitability - driven by stable net interest margins and rising fee income, and relatively weaker capitalization levels at the bank.
IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the bank to offer personalized banking and financial solutions to its clients through its 1,111 branches and 1,762 ATMs.
