Credit rating agency, CRISIL has reaffirmed ‘A1+’ rating to Axis Bank’s certificates of deposit worth Rs 35,000 crore. The bank has received the said rating affirmation on the back of its robust capitalisation, healthy resource profile, and strong earnings profile backed by high fee income. However, rating strength is partially offset by the susceptibility of its asset quality to stress in the corporate sector.
Axis Bank is the third-largest private sector bank in India. As on June 30, 2013, it had a network of 2021 branches including extension counters and 11,488 automated teller machines (ATMs) across the country.
