• search

ICRA assignes rating to BoB's Rs 1,000cr Lower Tier II Bonds

Written by: Staff
|

New Delhi, Sep 12 (UNI) Credit rating agency ICRA today assigned an LAAA rating to the Rs 1,000 crore Lower Tier II Bonds of Bank of Baroda (BoB).

The highest credit quality rating takes into account BoB's nation wide franchise imparting a stable low cost deposit base, its competitive capitalisation and improving core operating profitability.

The rating also factors in the risk associated in the banks investment portfolio on account of further rise in interest rates, BoB's comfortable operating profitability and capital position mitigates the impact on its financial profile.

BoB's position in the Indian financial system as the fifth largest bank in the country with an asset base of Rs 1,13,400 crore as of March 31, 2006 and the Government of India's majority ownership of the bank also support the ratings.

UNI KR PV BD1727

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more