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Fitch Reaffirms Negative Outlook For Banks On Bad Loans

Tuesday, November 22, 2016 5:36
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Mumbai: Fitch Ratings on Tuesday reaffirmed negative outlook on the country’s banking sector due to poor asset quality and weak earnings.

“The negative outlook reiterates our concern on fragile financial position of the banking sector. It also reflects our expectations of the ongoing weak asset quality, poor recovery and earnings in light of continued provisioning pressure that are emanating not just from the new potential NPLs but also from existing NPLs,” Fitch Ratings director (financial institutions) Saswata Guha told reporters here today.

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