BUSINESS

ICRA lowers outlook for 3 PSU banks

Rating agency ICRA on Monday lowered the outlook for three public sector banks from stable to negative after these banks reported loss in the October-December quarter.

These banks are Indian Overseas Bank, Central Bank of India and UCO Bank. Indian Overseas Bank posted a loss of Rs.1,425 crore during the third quarter while Central Bank of India posted a loss of Rs.837 crore and UCO Bank Rs.1,497 crore during the quarter. The agency also downgraded rating of various borrowing programmes of Bank of India (BoI).





Downgrades borrowing programmes of Bank of India



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