Axis Bank – Ratings Affirmed

30 January 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Axis Bank (ABL or the Bank) at ‘BBB-’ and ‘A3’, respectively. At the same time, CI Ratings has affirmed ABL’s Bank Standalone Rating (BSR) of ‘bbb-’, Core Financial Strength (CFS) rating of ‘bbb’, and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR is affirmed as Positive and Stable, respectively.

The LT FCR is underpinned by the Bank’s strong financial fundamentals, large size with total assets of USD195bn as at the end of H1 FY26 (the year ends in March 2026), a strong market presence and good management. The high ESL reflects the Bank’s systemic importance and the government’s good track record of supporting banks in need. The LT FCR does not benefit from any uplift from the BSR, despite a high ESL, since it is already in…