NEWS & ADVICE : PERSONAL LOAN
Crisil: ICICI carry top investment grade ratings
By Vaibhav Aggarwal
Oct 16, 2008
Print    Email    RSS   

Crisil, the leading credit rating agency, has reaffirmed its ‘AAA/FAAA' ratings on the debt instruments and fixed deposits of ICICI Bank. These ratings have been demonstrated on the basis of bank's strong market position and healthy capitalization.

The ratings also reflect ICICI Bank's management, the bank's average but improving resource position, its adequate earnings profile and moderate asset quality. The outlook on the Tier I perpetual bonds and upper Tier II bonds is ‘Stable'.

Another global rating firm Moody's has also reaffirmed its ratings of ICICI Bank UK [link to news on oct 14], with a stable outlook. The agency retained the ratings saying overseas arms of ICICI have no significant sub-prime risks.

Moody's latest credit report says, "ICICI Banks UK subsidiary has no high risk sub-prime securities and enjoys robust asset quality and liquidity."

Crisil believes that ICICI bank has adequate liquidity. The bank generally maintains an excess statutory liquidity ratio (SLR) of around 1 percent and has liquid investments in excess of Rs. 1,000 crore. In addition, the bank has access to call money markets with a daily limit of Rs.48,000 crore.

Although the present liquidity scenario is expected to put pressure on the bank's short term asset-liability management, Crisil believes that ICICI Bank has sufficient liquidity to deal with the same. Further, the agency also expects the RBI to continue to take necessary steps to ease liquidity concerns in the market.

ICICI Bank on Tuesday regained its position as the country's most valued private sector bank with its shares surging over five percent on the domestic bourses. The bank had last month lost its position as the most valued bank in the country across both private and public sector entities to the public sector giant SBI.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
An Insight into Lending Rate Changes
Bankers concerned on RBI loan recovery...
How to decide on a loan for business?
An analysis of alternatives to personal loans
Carnival of Indian Personal Finance Blogs # 7


Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive