IDBI Bank – Ratings Upgraded

Ref: IN020 2 3 CRA 00- 0 1 19 January 202 4

IDBI Bank – Ratings Upgraded

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of IDBI Bank to ‘BBB-’ and ‘A3’ , respectively , from ‘BB+’ and ‘B’. At the same time, the B ank S tandalone R ating (BSR) and Core Financial Strength (CFS) we re both raised to ‘bb’ , from ‘bb-’. The Outlook for the LT FCR and BSR has been rev ised to Stable from Positive . T h e Extraordinary Support Level ( ESL ) of High has been affirmed.

The upward revision of the LT FCR and the ST FCR reflects the continuing improvement in the Bank’s key financial parameters which we believe are sustainable. Asset quality and profitability have strengthened , while capital and liquidity ratios have…