CARE has reaffirmed ‘AAA’ ratings to Axis Bank’s Lower Tier II Bonds worth of Rs 10,000 crore.
The rating factors in the healthy business growth complemented by robust branch network, experienced senior management, stable financial performance, comfortable capitalization levels, healthy current account-saving account (CASA) mix and comfortable asset quality. Capitalization levels, asset quality and profitability are the bank’s key rating sensitivities.
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.
