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Entity-Specific Rating Rationales

08 Apr 2026

Axis Bank Limited: Ratings reaffirmed and withdrawn for matured instruments

Axis Bank Limited: Ratings reaffirmed and withdrawn for matured instruments

20 Jun 2025

Axis Bank Limited: [ICRA]AAA (Stable) assigned to infrastructure bonds; ratings reaffirmed

Axis Bank Limited: [ICRA]AAA (Stable) assigned to infrastructure bonds; ratings reaffirmed

19 Nov 2024

Axis Bank Limited: [ICRA]AA+ (Stable) assigned to Basel III Tier I Bonds; ratings reaffirmed

Axis Bank Limited: [ICRA]AA+ (Stable) assigned to Basel III Tier I Bonds; ratings reaffirmed

17 Oct 2024

Axis Bank Limited: Ratings reaffirmed

Axis Bank Limited: Ratings reaffirmed

22 Nov 2023

Axis Bank Limited: [ICRA]AAA (Stable) assigned to infrastructure bonds; ratings reaffirmed

Axis Bank Limited: [ICRA]AAA (Stable) assigned to infrastructure bonds; ratings reaffirmed

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Entity-Specific Credit Perspective Reports

30 Apr 2026

Axis Bank Limited

Axis Bank Limited (Non-SF)

13 Dec 2024

Axis Bank Limited

Axis Bank Limited (Non-SF)

26 Dec 2023

Axis Bank Limited

Axis Bank Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Basel III Tier II Bonds -- -- [ICRA]AAA(Stable) --
Basel III Tier I Bonds -- -- [ICRA]AA+(Stable) --
Fixed Deposit -- -- [ICRA]AAA(Stable) --
Certificate of Deposit [ICRA]A1+ -- -- --
Infrastructure Bonds -- -- [ICRA]AAA(Stable) --
Infrastructure Bonds -- -- [ICRA]AAA(Stable) --
Lower Tier II bonds programme -- -- Withdrawn --
PTC Series A2 * -- -- --
PTC Series A1 * -- -- --
PTC Series A2 -- -- * --

Our Analysts

Analyst 1

Sohil Mehta

Analyst 2

Sachin Sachdeva

Sector Head

Karthik Srinivasan
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