Disclosure under Regulation 30 of SEBI (LODR), 2015 - Credit Rating
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ICRA has reaffirmed Canara Bank's existing debt ratings at the highest levels: Basel III Tier II Bonds worth Rs. 8,900 crore retained [ICRA]AAA(Stable), and Basel III Tier I Bonds worth Rs. 7,500 crore retained [ICRA]AA+(Stable). A fresh rating of [ICRA]A1+ was assigned to a new Certificate of Deposits programme worth Rs. 10,000 crore. ICRA cited the bank's strong franchise (4th largest PSU bank, market share of 5.8% in advances and 6.4% in deposits), sovereign ownership with GoI holding 62.93%, improving asset quality (GNPA down to 2.69% as of June 30, 2025), and healthy capitalisation (CET1 of 12.29%) as supporting factors. The outlook remains Stable on all ratings.
Reaffirmation at top-tier investment grades signals continued financial strength and stability, which is positive for shareholders and debt investors. The newly assigned A1+ rating for Rs. 10,000 crore in certificates of deposit expands the bank's rated short-term borrowing headroom, supporting funding flexibility.