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INDIA POISED FOR BANKING SECTOR GROWTH AMIDST REGIONAL IMPROVEMENTS
The Business Guardian
|December 17, 2023
Fitch Ratings presents a positive outlook for 2024, underlining the nation’s substantial improvement in 2023, surpassing expectations.
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According to Fitch Ratings, the Asia-Pacific (APAC) Emerging Market Banks Outlook 2024 positions India favourably, anticipating sustained growth and enhanced performance.
The broader APAC region is expected to witness improved financial results across emerging-market banking systems in 2024. Fitch Ratings attributes this optimism to robust economic growth fostering increased demand for loans.
Notably, India stands out with an improving sector outlook, aligning well with positive bank operating environments (OE) assessments in the country, showcasing the nation’s resilience and potential in the banking landscape.
While Fitch acknowledges the deteriorating outlook in China due to various policy measures aimed at supporting its economy, the impact on India’s banks within Fitch’s rated portfolio is expected to be less pronounced.
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