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Fitch Ratings revises Axis Bank’s IDR outlook to ‘stable’

16 Jun 2022 Evaluate

Credit rating agency -- Fitch Ratings has revised outlook of Axis Bank to ‘stable’ from ‘negative’ on the Long-Term Issuer Default Ratings (IDR). The revision is due to diminished downside risks to India’s medium-term growth due to easing financial sector weakness and rapid economic recovery.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

Peers
Company Name CMP
HDFC Bank 728.10
ICICI Bank 1396.80
Axis Bank 1286.45
Kotak Mahindra Bank 446.00
Indusind Bank 874.00
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