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Icra downgrades IDFC Bank

Downgrading the bank, the agency said profitability of the bank will remain weak in the medium- to near- term even after the planned merger with Capital First and added that high cost wholesale liabilities are also a concern.

November 15, 2018 / 11:20 PM IST
ICRA | LIC cut stake in company to 6.54 percent from 9.27 percent earlier. (Image: Wikipedia)

ICRA | LIC cut stake in company to 6.54 percent from 9.27 percent earlier. (Image: Wikipedia)

 
 
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Domestic ratings agency Icra has downgraded the long-term ratings of the youngest private sector lender IDFC Bank on profitability concerns.

Downgrading the bank, the agency said profitability of the bank will remain weak in the medium- to near- term even after the planned merger with Capital First and added that high cost wholesale liabilities are also a concern.

PTI
first published: Nov 15, 2018 11:10 pm

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