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CARE Ratings upgraded Indian Overseas Bank's securities, citing strong performance and improved asset quality
31-Jul-2026, 03:46
Indian Overseas Bank announced several rating actions and financial updates, revealing a strong performance profile. CARE Ratings upgraded the bank's Non-Convertible Securities and Basel III Tier II Bonds to AA+ and AA respectively, with a stable outlook, while reaffirming the A1+ rating for Certificates of Deposit. CARE Ratings also reaffirmed the rating of Rs 20,000.00 of Certificates of Deposit and upgraded Tier-II Bonds from CARE AA; Stable to CARE AA+; Stable, with a PONV trigger applying. Additionally, CareEdge Ratings upgraded the bank’s outlook to stable, reflecting expectations of above-industry growth in advances, and highlighted improvements in asset quality, with Gross Non-Performing Assets decreasing from 2.14% to 1.42% as of March 31, 2026, and Net Non-Performing Assets falling to 0.21% by the same date, alongside a Capital Adequacy Ratio of 19.78% as of March 31, 2026.
Indian Overseas Bank announced several rating actions and financial updates, revealing a strong performance profile. CARE Ratings upgraded the bank's Non-Convertible Securities and Basel III Tier II Bonds to AA+ and AA respectively, with a stable outlook, while reaffirming the A1+ rating for Certificates of Deposit. CARE Ratings also reaffirmed the rating of Rs 20,000.00 of Certificates of Deposit and upgraded Tier-II Bonds from CARE AA; Stable to CARE AA+; Stable, with a PONV trigger applying. Additionally, CareEdge Ratings upgraded the bank’s outlook to stable, reflecting expectations of above-industry growth in advances, and highlighted improvements in asset quality, with Gross Non-Performing Assets decreasing from 2.14% to 1.42% as of March 31, 2026, and Net Non-Performing Assets falling to 0.21% by the same date, alongside a Capital Adequacy Ratio of 19.78% as of March 31, 2026.