Credit rating agency, CARE has reaffirmed AAA rating to HDFC Bank’s Lower Tier II Bonds worth Rs 12,919 crore. The rating agency has reaffirmed AAA rating to the company’s Upper Tier II Bonds worth Rs 5,100 crore and Perpetual Bonds worth Rs 1,200 crore. The rating agency has also reaffirmed AAA (FD) rating to the company’s Ongoing Fixed Deposits.
The rating agency has also reaffirmed A1+ rating to the company’s Certificate of Deposits worth Rs 15,000 crore.
The company has received the said rating reaffirmation on the back of its widespread domestic franchise, healthy capitalization levels, strong funding profile characterized by robust CASA mix, comfortable asset quality metrics as well as consistently healthy performance track record
HDFC Bank is the second largest private sector bank in India with market share of 3.9% and 4.3% in the total systemic deposits and advances respectively. As on June 30, 2012, the total balance sheet size of the bank stood at Rs. 3,60,001 crore.
