City Union Bank announced that ICRA has reaffirmed its credit rating for the bank’s instruments. The Issuer Rating has been reaffirmed as [ICRA]AA(Stable). Additionally, the rating for Basel III Tier II Bonds was assigned as [ICRA]AA(Stable) with an amount of Rs. 100 Crore, and Certificates of Deposit were reaffirmed at [ICRA]A1+, with an amount of Rs. 4,000 Crore. This reaffirms the bank’s strong creditworthiness.
Credit Rating Reaffirmation by ICRA
City Union Bank Limited has received an update regarding its credit ratings from ICRA, a leading credit rating agency. Following a review by its Rating Committee, ICRA has reaffirmed the credit rating assigned to the bank and its various financial instruments. This announcement is made in accordance with the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
Key Rating Details
ICRA has reaffirmed the Issuer Rating for City Union Bank as [ICRA]AA(Stable). This rating reflects the agency’s assessment of the bank’s overall credit risk and capacity to meet its financial obligations.
Instrument-Specific Ratings
- Basel III Tier II Bonds: A new rating of [ICRA]AA(Stable) has been assigned to these bonds, with a total instrument amount of Rs. 100 Crore.
- Certificates of Deposit: The existing rating of [ICRA]A1+ has been reaffirmed for Certificates of Deposit, amounting to Rs. 4,000 Crore.
The Rating Committee’s decision to reaffirm and assign these ratings indicates a stable outlook for City Union Bank’s financial health and its ability to manage its liabilities effectively. The credit rating was officially received by the bank on September 16, 2026.
Source: BSE
