DCB Bank ratings reaffirmed; certificate of deposit limit enhanced

DCB Bank announced that CRISIL Ratings has reaffirmed its 'CRISIL AA-/Stable/CRISIL A1+' ratings. The reaffirmed ratings apply to several of the bank's financial instruments, including its short-term bank facilities of INR350 Crore and tier II bonds programme of INR300 Crore and INR400 Crore, the short-term fixed deposit programme and the certificate of deposit programme. Additionally, the rating for the certificate of deposit program has been reaffirmed and the limit increased from INR1500 Crore from INR1000 Crore. These ratings reflect the bank's healthy capitalization, established market position in the SME sector, and stable management, partially offset by its average earnings profile.