Credit rating agency, CARE has assigned ‘A’ rating to the proposed Lower Tier II Bonds for an amount of Rs 250 crore of Karnataka Bank.
The bank has received the said rating on the back of its long track record of operations, improvement in margins, stable asset growth and comfortable capital adequacy with high proportion of Tier I capital.
Karnataka Bank is a Mangalore-based, small-sized, old private sector bank which was set up in 1924. The bank had 506 branches and 379 ATMs as on June 30, 2012. Majority of the branch network is in the state of Karnataka.
