Canara Bank has informed the Exchange about Credit Rating
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India Ratings & Research (Ind-Ra), part of the Fitch Group, affirmed Canara Bank's credit ratings on February 13, 2026. The bank's Issuer Rating was retained at IND AAA/Stable, Infrastructure Bonds worth INR 100 billion at IND AAA/Stable, and Basel III Tier 2 instruments of INR 75 billion at IND AAA/Stable. A new Basel III Tier 2 instrument of INR 50 billion was freshly assigned IND AAA/Stable, while Basel III AT1 Bonds worth INR 120 billion were reaffirmed at IND AA+/Stable. The agency cited Canara's high systemic importance as the 4th largest public sector bank, improving asset quality (gross NPAs down to 2.08% in Q3 FY26), and adequate capital buffers (CET1 at 12.37%). The bank continues to benefit from likely government of India support due to its pan-India franchise of over 10,066 branches.
All ratings reaffirmed at strong investment-grade levels (AAA and AA+) with a Stable outlook, signaling continued financial strength and minimal credit risk for shareholders. The new INR 50 billion Tier 2 bond rating suggests fresh capital raising to fund the bank's 11-13% credit growth target, which is mildly positive for long-term balance sheet strength.