ICICI, Axis troubles highlight governance issues in Indian banks, says S&P
Updated : April 12, 2018 03:29 PM IST
The recent governance issues in India's banking sector involving ICICI Bank and Axis Bank reiterate the need to improve risk management and maintain strong governance practices, S&P Global Ratings said on Thursday.
The US-based rating agency assesses management's ability and expertise to grow the business sustainably while rating banks.
"We view governance and transparency in Indian banking as a negative factor," it said. S&P has 'BBB-' rating with a stable outlook for both Axis Bank and ICICI Bank.
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