Moody’s Investors Service has affirmed the local currency and foreign currency bank deposit ratings of ICICI Bank at Baa3/P-3, respectively. At the same time, Moody’s has downgraded the baseline credit assessments (BCAs) and adjusted BCAs of ICICI Bank to ba1 from baa3.
Furthermore, Moody's has downgraded the Counterparty Risk Assessments (CR Assessments) of ICICI Bank to Baa3(cr)/P-3(cr) from Baa2(cr)/P-2(cr). The outlooks on all ratings, where applicable, have been revised to stable from positive.
ICICI Bank is India’s largest private sector bank by consolidated assets. For the quarter ended March 31, 2017, ICICI Bank's standalone net profit jumped to Rs 2,024.64 crore from Rs 701.89 crore in the year-ago period.
