CRISIL reaffirms 'CRISIL A1+' ratings on CSB Bank deposit programme

The Rationale report states that the rating centrally reflects the current healthy capitalisation levels along with commitment of support from Fairfax, in case of exigency.

Mar 19, 2021 04:03 IST India Infoline News Service

CRISIL has reaffirmed its ‘CRISIL A1+’ rating to Rs2000cr Certificate of Deposits programme and Rs2000cr Short-term Fixed Deposit programme of CSB Bank Limited.

The Rationale report states that the rating centrally reflects the current healthy capitalisation levels along with commitment of support from Fairfax, in case of exigency.

The rating also factors in the stable deposit profile and experienced management team. These strengths are partially offset by the modest, albeit improving, earnings profile, lack of track record in the new non-gold loan book and modest scale of operations.

CRISIL has evaluated the standalone business and financial risk profile of CSB Bank.

CSB Bank ended at Rs244.10 apiece down by Rs1.05 or 0.43% from its previous closing of Rs245.15 apiece on Sensex.

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