AU Small Finance Bank’s Rating Upgraded to ‘AA'

Share Us

867
AU Small Finance Bank’s Rating Upgraded to ‘AA'
25 Mar 2022
6 min read

News Synopsis

CARE Ratings has upgraded the rating of AU Small Finance Bank from ‘AA-’ to ‘AA’ for its long-term debt instrument. A rating of AA is considered stable by the company. CARE Ratings is a rating agency that is registered under the Securities and Exchange Board of India (SEBI). Other than this, AU Small Finance Bank also managed to retain its A1+ rating for its short-term instruments. The bank informed that the upgrade of ratings by CARE is a strong endorsement for the bank’s growing banking franchise. Managing Director and CEO of AU Small Finance Bank, Sanjay Agarwal at the latest development said:  “The upgrade of ratings by CARE is a testament to our franchise’s resilience in the face of the ongoing pandemic, the tireless efforts of our employees, and the strong rebound shown by our customers and stakeholders. This rating upgrade also comes on the heels of the recent outlook change - from stable to positive - by CRISIL Ratings. Going forward, we will continue investing in our digital capabilities like AU 0101, video banking setup; introducing newer products like Credit cards and QR Codes, and aligning our business across 10 SBUs.” 

TWN In-Focus