Mumbai : RBL Bank Limited, today announced that Crisil Ratings has assigned its ‘Crisil AAA/Stable’ rating to Rs 1,30,000 Crore of Fixed Deposits and Rs 1,000 Crore of Infrastructure Bonds of RBL Bank Ltd. Also, it has assigned its ‘Crisil A1+’ rating to Rs 19,000 Crore of Certificate of Deposits of the Bank.
The ratings factor in the expected strong support from, and RBL Bank’s strategic importance to, Emirates NBD Bank (ENBD), the majority shareholder, on an ongoing basis. The ratings also reflect the bank’s healthy capitalization, which has materially strengthened after the recent preferential equity infusion by ENBD and the increasing diversity in the bank’s asset profile.
This follows the Bank significantly strengthening its capital position following Emirates NBD’s acquisition of a 60% stake through a primary capital infusion of USD 2.75 Billion (~ Rs 260 Billion)
Mr. R Subramaniakumar, MD & CEO, RBL Bank, said: “The rating of CRISIL AAA/ Stable is a strong validation of the strategic capital and sponsorship from Emirates NBD along with the progress
made towards strengthening the balance sheet and risk profile of the bank over the past few years. It positions us well to pursue our growth plans with greater resilience and discipline.”
