OTHER GROUP COMPANIES
market

Brickworks reaffirms credit rating of IDFC Bank’s debt instruments worth Rs1,968.40 crore

BWR factors in the Bank’s performance upto FY22, feedback from the Debenture trustees, publicly available information, and information and clarification provided by the Bank’s management, while reaffirming the rating.

June 07, 2022 2:24 IST | India Infoline News Service
IDFC Bank Limited has informed that the rating agency Brickwork Ratings reaffirms the BWR AA+/Stable rating on the bank’s Non-Convertible Debentures of Rs1,968.40 crore.

BWR factors in the Bank’s performance upto FY22, feedback from the Debenture trustees, publicly available information, and information and clarification provided by the Bank’s management, while reaffirming the rating, stated brickworks in its rating rationale.

The rating reaffirmation factors in the Bank’s comfortable capital adequacy ratio (CAR) of a total 16.74% (CET-1 ratio of 14.88%) as of March 31, 2022, along with an increase in the business size to Rs2.23 lakh crore (FY21: Rs1.89 lakh crore). It consists of net advances of Rs1,17,858 crore (FY21: Rs100,550 crore) and total deposits of Rs105,634 crore (FY21: Rs88,688 crore) as of March 31, 2022 through increased focus on the retail portfolio.

IDFC First Bank is currently trading at Rs34.60 down by Rs0.5 or 1.42% from its previous closing of Rs35.10 on the BSE. The scrip touched intraday high and low of Rs35.15 and Rs34.50 respectively.

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

FEATURED ARTICLE

BLOGS

Open Demat Account
  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity