Mumbai: Canara Bank has informed the stock exchanges that India Ratings & Research (Ind-Ra) has assigned and affirmed credit ratings for the bank and its various instruments on September 4, 2026.
The rating agency has maintained the bank’s Issuer Rating at IND AAA/Stable, reflecting its strong credit profile, systemic importance and continued support from the government.
Canara Bank’s Issuer Rating Retained at IND AAA/Stable
India Ratings has affirmed Canara Bank’s Issuer Rating at IND AAA/Stable, the highest rating assigned by the agency.
The rating indicates a very strong capacity of the bank to meet its financial commitments.
Key Rating Actions
- Issuer Rating: IND AAA/Stable — Affirmed
- Basel III AT1 Bonds: ₹45 billion — IND AA+/Stable — Assigned
- Infrastructure Bonds: ₹100 billion — IND AAA/Stable — Affirmed
- Basel III Tier 2 Instruments: ₹95 billion — IND AAA/Stable — Affirmed
- Basel III AT1 Bonds: ₹120 billion — IND AA+/Stable — Affirmed
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Basel III AT1 Bonds Rated IND AA+/Stable
India Ratings has assigned an IND AA+/Stable rating to Canara Bank’s ₹45 billion Basel III Additional Tier 1 (AT1) Bonds.
The agency has also affirmed the IND AA+/Stable rating for the bank’s existing ₹120 billion Basel III AT1 Bonds.
The ratings on the AT1 instruments reflect their position within the bank’s capital structure and the specific characteristics associated with Basel III-compliant capital instruments.
Infrastructure and Tier 2 Instruments Retain AAA Rating
Canara Bank’s ₹100 billion Infrastructure Bonds have retained their IND AAA/Stable rating.
Similarly, the bank’s ₹95 billion Basel III Tier 2 Instruments have also been affirmed at IND AAA/Stable.
The continued AAA ratings indicate the strong credit profile of the bank’s senior and eligible debt instruments.
India Ratings Highlights Canara Bank’s Strong Credit Profile
India Ratings continues to assess Canara Bank on a fully consolidated basis, taking into account the bank and its subsidiaries.
According to the rating assessment, the ratings factor in several key strengths of Canara Bank, including:
- Systemic importance of the bank in the Indian banking sector
- Expected government support
- Adequate capital buffers
- Improving profitability
- Overall strength of the bank’s consolidated financial profile
The affirmation of the ratings reflects the agency’s continued assessment of Canara Bank’s financial strength and its important position within the Indian banking system.
About Canara Bank
Canara Bank is one of India’s leading public sector banks, with a nationwide presence across retail, corporate, MSME and other banking segments. Headquartered in Bengaluru, the bank provides a wide range of financial services, including deposits, loans, digital banking, corporate banking and other financial products.
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