IndusInd Bank on Tuesday (March 18, 2025) mentioned world ranking company Moody’s has positioned the financial institution’s baseline credit score evaluation (BCA) under review for a attainable downgrade.
The ranking review comes days after IndusInd Bank disclosed a ₹2,100 crore discrepancy in accounting with an estimated affect of two.35% of the financial institution’s web value.
“Moody’s has placed IndusInd’s Ba1 Baseline Credit Assessment (BCA) and adjusted BCA under review for downgrade,” IndusInd Bank mentioned in a regulatory submitting.
Baseline credit score assessments are primarily based on the entity’s standalone monetary well being, with out contemplating any help it’d get from associated firms.
However, the submitting mentioned, Moody’s has affirmed ‘Ba1/NP (Stable)’ to the financial institution’s long-term (LT) and short-term (ST) international and native foreign money (LC) financial institution deposits and issuer scores and counterparty threat scores (CRRs).
The ranking company has additionally affirmed long-term and short-term counterparty threat (CR) assessments.
Meanwhile, the Reserve Bank on Saturday assured clients that IndusInd Bank stays ‘well-capitalised’, even because it directed the financial institution’s board to finish remedial motion referring to accounting discrepancy inside this month.
There was no want for depositors to react to the speculative experiences at this juncture, RBI had mentioned in its assertion.
The central financial institution assured clients and buyers that the financial institution’s monetary well being stays secure and is being monitored intently by it.
Published – March 18, 2025 10:06 pm IST
