Fitch affirms Oriental Bank of Commerce

Fitch Ratings said it affirmed Oriental Bank of Commerce's long-term foreign-currency issuer default rating at BB+.

The outlook is stable.

The ratings are support-driven rather than driven, but also consider the bank's moderate financial metrics compared to higher-rated Indian banks, post its merger with Global Trust Bank in 2005, Fitch said.

While the bank has managed to improve its asset quality and ensure adequate capitalization, funding mix and profitability continue to constrain the ratings, the agency said.

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