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Tuesday, Nov 26, 2002

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Money & Banking - Credit Rating


UTI Bank CD issue gets `A1+'

MUMBAI: The Rs 1,000-crore certificate of deposits (CD) programme of UTI Bank has been rated as `A1+', indicating highest safety in the short-term by Investment Information and Credit Rating Agency (ICRA).

The short-term rating takes into account the steady improvement in the asset quality subsequent to the acquisition of the loan portfolio from other institutions, consistent high growth in deposits and comfortable liquidity position, according to a press release. — Our Bureau

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