Description

Fitch Ratings has maintained the long-term issuer default rating (IDR) of "BBB-" for both State Bank of India (SBI) and Canara Bank. The organization also predicts a "stable" future for these state-run institutions. Despite differences in risk appetite and loan growth patterns, both banks have the capacity to meet their financial obligations.

SBI's Risk Profile And Outlook

Despite a decrease in total loan growth, Fitch underlines SBI's above-average risk appetite. The bank's strong financials and dominant market position support its steady outlook. Fitch expects SBI's asset quality to improve, with the impaired-loan ratio falling to 2.0% by FY25.

Canara Bank: Loan Growth And Caution

Fitch reports a recovery in loan growth at Canara Bank, particularly in the farm and corporate sectors. However, when compared to peers, the bank takes a cautious approach to retail lending, remaining balanced.

Profitability Projections

Both SBI and Canara Bank have good profitability prospects. SBI's profitability is increasing as operational profit ratios improve and impairment charges are well managed. Canara Bank's operational profit ratio has also grown, and despite anticipated margin pressure, Fitch believes it will sustain profitability levels in line with expectations.

Market Performance

On April 16, SBI closed slightly lower, while Canara Bank saw a modest decrease in trading.

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