Canara Bank Ratings Affirmed

6 March 2026

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

The Bank’s LT FCR is set two notches above its BSR, in view of the high likelihood of extraordinary support in case of need from the government, which is a majority shareholder. The High ESL is supported by the Bank’s size (as the sixth largest in India in terms of assets) and its sizeable domestic presence.

The BSR is derived from a CFS rating of ‘bb’ and an Operating Environment risk Anchor (OPERA) of ‘bbb-’. The latter was raised from ‘bb+’ in October 2025. The upward revision…