Canara Bank announced that its credit rating agency, ICRA, has reaffirmed the ratings for its key debt instruments as of March 9, 2026. The Basel III Tier I Bonds were reaffirmed at [ICRA]AA+(Stable), while the Basel III Tier II Bonds received a rating of [ICRA]AAA(Stable). Furthermore, the rating for Certificates of Deposit was reaffirmed/assigned at [ICRA]A1+ for an enhanced amount of Rs. 20,000.00 crore.
Credit Rating Update by ICRA
Canara Bank has officially disclosed the recent credit ratings received from ICRA (Rating Agency) on 09.03.2026. This disclosure confirms the stability and strong credit profile maintained by the Bank across its major outstanding instruments.
Details of Reaffirmed Ratings
The ratings cover three distinct categories of instruments, all of which saw reaffirmations, indicating consistent performance assessment by the rating agency:
- Basel III Tier I Bonds: Rated at [ICRA]AA+(Stable), reaffirming the existing rating. The current rated amount for this instrument stands at Rs. 11,000.00 crore.
- Basel III Tier II Bonds: Received the highest rating of [ICRA]AAA(Stable), which has been reaffirmed. The rated amount for Tier II Bonds is Rs. 11,500.00 crore.
- Certificate of Deposit: The rating of [ICRA]A1+ was either reaffirmed or assigned for an enhanced amount. This instrument holds a substantial rated value of Rs. 20,000.00 crore.
Rationale and Disclosure
The Bank confirms that a copy of the detailed credit rating rationale issued by ICRA has been enclosed with the formal communication. This update serves to inform all stakeholders of the robust credit assessment maintained by the Bank as of the announcement date.
Source: BSE
