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Fitch places Punjab National Bank on RWN with downgrade possibility

Fitch Ratings has placed Punjab National Bank (PNB) on ‘Rating Watch Negative’ (RWN), reflecting a possibility of downgrade following the $1.77 billion fraud. The agency has placed the bank’s Viability Rating of ‘bb’ on RWN. The agency added that the fraud — the biggest ever in the banking history– has ... Read More »