Credit rating agency, ICRA has assigned A1+ rating to Rs 3,000 crore Certificates of Deposit Programme (enhanced from Rs. 2,000 crore) of Karur Vysya Bank. Moreover, the bank has a rating of A+ with a positive outlook to its Rs. 300 crore Lower Tier II Bonds programme from ICRA.
The bank’s ratings are supported by the bank’s established franchise in South India, healthy profitability, comfortable liquidity profile and adequate capitalisation.
Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.
