Monday, January 7, 2019

Rating watch on IDBI Bank removed

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Rating agency S&P, has affirmed ‘BB’ long-term and ‘B’ short-term foreign currency issuer credit ratings on IDBI Bank, while removing them from Credit-watch, after the recent capital infusion from Life Insurance Corporation.

The bank has announced that it received Rs 14,500 crore in fresh capital from LIC on December 28, 2018. This capital infusion is part payment for LIC’s proposed acquisition of a 51 per cent controlling stake in the bank. 

IDBI Bank closed flat at Rs 61.25 in today's trade.

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