Credit rating agency -- CRISIL Ratings has assigned its ‘AA+/Stable’ rating to IDFC First Bank’s Rs 3,000 crore Tier-II bonds (under Basel III) and has reaffirmed its 'AA+/Stable/A1+' ratings on the other debt instruments. The rating continues to be driven by steady scale up of business, backed by strengthening of both retail asset and liability side franchise, improved asset quality, and expectation of continued improvement in operating and overall profitability. Furthermore, the ratings reflect the bank’s healthy capitalisation level.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.