Indian banks rise after winning rating upgrades from S&P Global

ICICI Bank

18/08/2025 05:17

** Shares of major Indian Banks advance post S&P upgrade; Banking index .NSEBANK rises 1.2%, financial index .NIFTYFIN up 1.5%

** S&P Global upgrades ratings for ten Indian financial institutions including HDFC Bank HDBK.NS, State Bank of India SBI.NS, AXIS Bank AXBK.NS and ICICI bank ICBK.NS on August 14

** S&P expects asset quality of Indian banks to remain healthy

** Insolvency and bankruptcy code has improved the payment culture and rule of law in India, says S&P

** Move follows S&P's upgrade of India's sovereign rating

** YTD, banking index .NSEBANK up 10%, financial index

.NIFTYFIN  up 13.75% vs Nifty 50's .NSEI 5.5% gain

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com))