iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

ICRA assigns ‘AA+' rating to Axis Bank's Basel III Tier I bonds worth Rs500 crore

20 Sep 2022 , 01:34 PM

Axis Bank Limited informed that rating agency ICRA Limited has assigned and reaffirmed ratings for various debt instruments.

ICRA has reaffirmed the ‘ICRA AAA’ rating on Infrastructure Bonds/Debentures worth Rs29,705 crore, Basel III Tier II Bonds worth Rs16,350 crore, Basel II Lower Tier II Bonds worth Rs2,500 crore, and fixed deposit programme. The outlook on these instruments has been reaffirmed as ‘Stable’.

Further, the rating on Basel III Tier I Bonds worth Rs2,500 crore has been reaffirmed at ‘ICRA AA+’ with a Stable outlook. While ICRA has assigned an ‘ICRA AA+/Stable’ rating to Basel III Tier I Bonds worth Rs500 crore.

The rating agency has reaffirmed the ‘ICRA A1+’ rating on the certificate of deposits worth Rs60,000 crore.

The ratings of Axis Bank are backed by its strong position in the Indian financial system as the third-largest private sector bank with a 6.2% share of advances and a 5.1% share of banking system deposits, mentioned ICRA in its rating rationale.

Furthermore, overall capitalisation levels remain reasonable, while internal capital production has steadily improved as asset quality and credit costs have gradually declined.

Furthermore, Axis Bank continues to operate with significant floating/prudent provisions. This, together with a provision coverage ratio (PCR; excluding technical write-offs) of 77% as of June 30, 2022, offers enough cushion to absorb unanticipated asset quality shocks while also supporting the improvement in internal capital production, said ICRA in its rationale.

At around 1.33 PM, Axis Bank was trading at Rs812.85 apiece, up by 1.75% from its previous closing of Rs798.85 on the BSE. The scrip touched intraday high and low of Rs816 and Rs803.30 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • AXis bank credit rating
  • Axis Bank news
  • Axis Bank Stock
  • Axis bank Updates
  • AxisBank
  • AxisBankRating
  • CreditRating
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.