CARE has reaffirmed ‘AA+’ ratings to Vijaya Bank’s Tier II Bonds BASEL III Compliant worth Rs 250 crore. The ratings continue to take into account the majority ownership of Vijaya Bank by the Government of India (GoI) as well as expectation of future capital support and comfortable asset quality parameters. The rating strengths are offset by the moderation in capitalisation levels, moderate profitability and resource profile with low CASA proportion.
Vijaya Bank, the Karnataka-based bank offers various products and services specific to various segments such as it has saving accounts for children, scheme for women clientele, credit facilities to minority communities like Zoroastrians, Buddhists are among others.
