IIFL Finance Ratings Affirmed: A Stable Outlook Post-RBI Ban Lifting
Fitch Ratings has affirmed IIFL Finance's ratings with a stable outlook, following the RBI's lifting of the ban on new gold-backed lending. The firm's franchise is expected to stabilize, with resilient funding in housing and microfinance supporting profitability despite challenges in gold-backed lending.
- Country:
- India
Fitch Ratings affirmed IIFL Finance's ratings with a stable outlook on Monday, citing the gradual stabilization of the firm's franchise after the Reserve Bank of India lifted its ban on new gold-backed lending.
The RBI had previously imposed regulatory restrictions in March, which were lifted in September, allowing IIFL Finance to resume its gold-backed lending operations.
Fitch has affirmed the long-term issuer default rating (IDR) and medium-term note programme rating at 'B+' for IIFL Finance, with expectations of a stabilizing outlook. While funding for gold-backed lending remains tentative and could limit growth, resilient funding in housing finance and microfinance is likely to sustain the group's credit profile and profitability.
(With inputs from agencies.)
ALSO READ
Paris Conference Aims to Aid Lebanon Amid Global Discord
Banning Beginnings: Bangladesh's Crackdown on Student Wing
Ban on Bangladesh Chatra League Following Student Protests
Sitharaman Discusses Global Financial Reforms with World Bank President
Bangladesh Triumphs Over India in SAFF Women's Championship Clash