State Bank Of India has informed the Exchange about Credit Rating Rationale received from CRISIL and India Ratings
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State Bank of India has shared credit rating rationales from CRISIL and India Ratings dated March 5, 2026. India Ratings assigned 'IND AAA/Stable' to SBI's new Additional Tier II Bonds worth INR75 billion and affirmed all existing ratings — Long-Term Issuer Rating at IND AAA/Stable, Basel III Tier II Bonds (INR175 billion) at IND AAA/Stable, AT1 Bonds (INR139.74 billion, reduced from INR164.74 billion) at IND AA+/Stable, Infrastructure Bonds (INR400 billion) at IND AAA/Stable, and Certificates of Deposit (INR300 billion) at IND A1+. CRISIL assigned 'CRISIL AAA/Stable' to new Rs 7,500 crore Tier II Bonds and reaffirmed ratings on Fixed Deposits, Infrastructure Bonds, AT1 Bonds, Tier II Bonds, and Certificates of Deposit. Both agencies withdrew ratings on fully redeemed instruments totaling Rs 8,000 crore. The agencies highlighted SBI's dominant 22% deposit market share, improving GNPA at 1.57%, ROA of ~1.1%, strong government support (GoI holds 55.03%), and stable outlook.
This is a positive, routine update confirming SBI maintains the highest investment-grade credit ratings on all its debt instruments. The reaffirmation and stable outlook signal strong financial health and continued government backing, which should support low borrowing costs for SBI. No negative impact expected for shareholders; stock is unlikely to see significant movement solely on this news.