Credit rating agency, ICRA has assigned A1+ rating to the Rs 2,000 crore Certificate of Deposit (CD) Programme of Karur Vysya Bank. The rating agency has also reaffirmed the A+ rating with a positive outlook to the Rs 300 crore Lower Tier II Bonds Programme (outstanding Rs 150 crore) of the bank.
The ratings are based on the bank’s strong capitalization levels, steady profitability, strong franchise in South India and a comfortable liquidity profile. ICRA has taken note of the bank’s significant exposures to state electricity boards, which face heightened credit risks owing to the mounting losses.
Karur Vysya Bank is among 6 old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.
Company Name | CMP |
---|---|
HDFC Bank | 1438.85 |
ICICI Bank | 1124.60 |
Axis Bank | 1126.85 |
Indusind Bank | 1418.85 |
Kotak Mahindra Bank | 1649.00 |
View more.. |