Fitch upgrades Bank of India's viability rating to 'bb-'

Fitch Ratings has affirmed Bank of India's long-term issuer default rating (IDR) at 'BBB-' with a stable outlook and upgraded the bank’s viability rating to 'BB-' from 'B+'. The upgrade reflects improvements in the bank's risk profile and financial performance over the past five years. Fitch projects India's GDP growth above 6% for FY25 and FY26, supporting the bank's profitability. BOI's common equity Tier 1 (CET1) ratio rose to 14.4% in 9MFY25. BOI's long-term IDR (xgs) has been upgraded to 'BB-(xgs)' from 'B+(xgs)'. The operating environment score of 'bb+' is above the implied category score of 'b' due to economic performance and size and structure of the economy (positive).