CARE assigns AAA rating to Axis Bank's tie II bonds

Rating agency Care has assigned AAA rating to Axis Bank's lower tier-II bonds worth Rs 2,000 crore.

"The rating factors in Axis Bank’s track record of growth and improving profitability, healthy capitalisation levels, strong management and resource-raising ability marked with high proportion of low-cost deposits on the back of innovative product offerings, strong technology platform and expanding network.

Axis Bank’s ability to maintain asset quality of its growing portfolio and ability to manage liquidity inter alia by reducing reliance on bulk deposits are the key rating sensitivities," the bank said in a statement.