Axis Bank Limited — Credit Ratings, 20-06-2025: Credit Rating

ICRA has assigned a [ICRA]AAA (Stable) rating to Axis Bank’s new Rs. 8,000 crore infrastructure bonds and reaffirmed its ratings across other instruments, including Basel III Tier II bonds at [ICRA]AAA (Stable) and Basel III Tier I bonds at [ICRA]AA+ (Stable). The stable outlook reflects Axis Bank’s strong capitalisation, robust liquidity, and significant presence as the third-largest private sector bank with a 5.7% share in advances. Despite some pressure on net interest margins and elevated slippages in unsecured retail loans, the bank maintained healthy profitability and asset quality supported by prudent provisions of Rs. 5,012 crore. The rating affirmation supports Axis Bank’s ability to raise funds at competitive costs while sustaining investor confidence amid a challenging operating environment.