Bank of Baroda's Long-Term Green Infrastructure Bonds Rated AAA (Stable) by ICRA
ICRA assigned [ICRA] AAA (Stable) to Bank of Baroda's Long Term Green Infrastructure Bonds, reaffirming other ratings. Total rated amount increased to ₹16,500 crore. Strong capitalisation, improving asset quality, and robust liquidity support the ratings. Profitability expected to improve from Q1 FY2027.
A top-tier credit rating from a reputable agency like ICRA enhances the bank's credibility and attractiveness to investors, potentially lowering borrowing costs and facilitating access to capital markets for its long-term green infrastructure projects.
The rating agency has assigned the highest possible rating (AAA) to the bank's long-term green infrastructure bonds and reaffirmed existing ratings, indicating strong financial health and stability.
ICRA Ratings has assigned an [ICRA] AAA (Stable) rating to Bank of Baroda's Long Term Green Infrastructure Bonds and reaffirmed existing ratings on February 25, 2026. The rating action covers various instruments including Basel III Tier-I bonds, Basel III Tier II bonds, infrastructure bonds, and fixed deposit programmes. The total rated amount increased from ₹6,950 crore to ₹16,500 crore. The ratings are supported by Bank of Baroda's sovereign ownership, strong franchise, steady deposit growth, and competitive cost of funds. The bank maintains a strong capitalisation profile, supported by healthy internal accruals, and is expected to remain self-sufficient for its capital requirements. Asset quality indicators continue to improve, with a sustained moderation in the residual vulnerable book. Profitability, while moderating slightly in 9M FY2026 due to a decline in net interest margin (NIM), is expected to stabilize and gradually improve from Q1 FY2027. ICRA has reaffirmed and withdrawn the rating for Rs. 450.00-crore Basel III Tier II bonds as they have been fully redeemed. The bank's liquidity position remains superior, with a daily average liquidity coverage ratio (LCR) of 126.04% in Q3 FY2026.
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Bank of Baroda filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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