Canara Bank has informed the Exchange about Credit Rating
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ICRA has reaffirmed Canara Bank's credit ratings on February 13, 2026 across all its debt instruments. Basel III Tier I Bonds of Rs. 11,000 crore retained [ICRA]AA+ (Stable), Tier II Bonds of Rs. 6,500 crore kept [ICRA]AAA (Stable), and Certificates of Deposit of Rs. 10,000 crore kept [ICRA]A1+. A fresh [ICRA]AAA (Stable) rating was assigned to newly issued Basel III Tier II Bonds worth Rs. 5,000 crore, pushing the total rated amount to Rs. 32,500 crore. Separately, a Rs. 2,400 crore Tier II bond rating was withdrawn after those bonds were fully redeemed. ICRA highlighted sovereign ownership (GoI holds 62.93%), strong capital position (CET 1 at 12.37%), and improving asset quality (gross NPAs down to 2.08%) as key strengths, with a Stable outlook maintained.
The reaffirmed high investment-grade ratings confirm Canara's financial health and government backing, which is neutral to mildly positive for shareholders. The new Rs. 5,000 crore Tier II bond issuance shows the bank is actively raising capital to support growth, while the redemption of old bonds reflects healthy liability management.