Fitch affirms Karur Vysya

Fitch Ratings has affirmed Karur Vysya Bank Ltd.'s national long-term rating and the rating on its Rs. 3 billion lower tier 2 subordinated debt program at A+(ind).

The outlook is stable.

The ratings reflect the bank's regionally concentrated franchise and small size compared with larger new private banks and public sector banks, Fitch said.

The ratings also consider its stable financial performance, comfortable levels of capitalization and adequate asset quality, the agency said.

The bank has consistently maintained a comfortable capital position, Fitch added.

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