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CARE revises ratings to Central Bank of India’s various bonds

01 Jan 2014 Evaluate

Credit Analysis & Research (CARE) has revised AA- rating to Central Bank of India’s Lower Tier II Bonds worth Rs 1437.3 crore from AA and A+ rating to Upper Tier II Bonds worth Rs 2285.0 crore from AA-. 

The rating revision takes into account deterioration in asset quality and weak profitability parameters. The rating also factors in the majority ownership and capital support by the GoI, extensive branch network and comfortable CASA base. Continued ownership and support from GoI, asset quality and profitability are the key rating sensitivities.

Central Bank of India has been serving more than 3,50,00,000 account holders through its 4,400 branches, 6 extension counters, 29 Satellite offices, 1,970 ATMs and 2,413 ultra small branches (USBs).

CentralBank of India Share Price

30.24 -0.06 (-0.20%)
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Peers
Company Name CMP
SBI 979.65
PNB 105.65
Bank Of Baroda 271.35
Canara Bank 133.00
Union Bank Of India 166.55
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