Credit rating agency, CARE has reaffirmed ‘AAA’ rating to State Bank of Mysore’s Upper Tier II Bonds worth Rs 640 crore and Perpetual Bonds worth Rs 260 crore.
The company has received the said rating on the back of its moderation in asset quality and subdued profitability in FY12.
State Bank of Mysore is the first Karnataka-based bank with fully networked branches. The bank embarked upon the latest Banking Technology platform by implementing the Core Banking Solutions (CBS) across all its branches, with an objective of providing banking convenience to the customers.
