Ind Ra affirms CSB Bank's Tier II Bonds rating at 'IND A' with stable outlook

19 Aug 2022 , 01:45 PM

India Ratings has affirmed CSB Bank’s Tier II Bonds rating at ‘IND A’ with Stable outlook.

According to the rating rationale report, a substantial increase in the franchise, experience in corporate assets, a strengthening and improvement of the deposit profile, especially outside Kerala and Tamil Nadu, a scaling up of non-gold loans materially and consistent return ratios could lead to positive rating action.

Further, the rating agency expects that the bank’s CET1 falling below 13% could lead to a negative rating action.

At around 1:44 PM, CSB Bank Ltd was trading at Rs208.35 per share up by Rs1.05 or 0.51% from its previous closing of Rs207.30 per share on the BSE.

The scrip opened at Rs207.85 per share and has touched a high and low of Rs210.20 per share and Rs207.20 per share respectively so far today. The current market cap of the company is Rs3,596.36 crore.