IndusInd Bank gets rating reaffirmation from CARE for subordinated Tier II Bonds

Credit rating agency, CARE has reaffirmed AA rating to Indusind Bank’s Subordinated Tier II Bonds worth Rs 450 crore.

The bank has received the said rating affirmation on the back of strong management team and initiatives undertaken by the new management has led to increment in profitability and productivity metrics, besides the strong growth in business, its comfortable capitalisation levels and the demonstration of ability to raise capital by the management.

IndusInd Bank is one of the new-generation private-sector banks in India which commenced its operations in 1994. Presently, IBL has a network of over 421 branches and 735 ATMs spread across 288 locations across India.