CARE Ratings upgrades RBL Bank's INR 8 bln tier-2 bonds to 'AAA' from 'AA-'
This story was originally published at 21:43 IST on 14 July 2026
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--CARE Ratings ups RBL Bank's INR 8 bln tier-2 bonds to 'AAA' from 'AA-'
NEW DELHI – RBL Bank Tuesday said CARE Ratings Ltd. has upgraded the rating on its INR 8 billion tier-2 bonds to "AAA" from "AA-" while maintaining a "stable" outlook. "Rating upgrade reflects significant strengthening of RBL Bank's capitalisation profile following the capital infusion of INR 260.16 billion by Emirates NBD," the rating agency said. It reaffirmed the "A1+" rating on the bank's certificates of deposit.
The agency also said the upgrade factors in RBL's strategic importance within the Emirates NBD Group and expectations of continued shareholder support. "CareEdge Ratings noted the bank's relatively high dependence on bulk deposits and a modest current account savings account ratio, which continues to exert pressure on its cost of funds," the bank said in an exchange filing.
Any deterioration in the credit profile of the promoter or dilution in support management control of Emirates NBD may lead to negative rating action by the agency. A decline in the tier-1 capital adequacy ratio with a cushion over the minimum regulatory requirement falling below 3.5% will also impact the rating. Moreover, weakening asset quality with net non-performing assets ratio remaining above 3.0% on a sustained basis will also play a crucial role.
For the March quarter, RBL had reported a net profit of INR 2.30 billion and total income of INR 47.89 billion. Tuesday, its shares closed at INR 377.95 apiece on the National Stock Exchange, down 0.7% from Monday. End
Reported by Sagar Sen
Edited by Rajeev Pai
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