Canara Bank sees leadership change, credit ratings reaffirmed

Canara Bank announced the completion of tenure for Vijay Srirangan as its non-executive chairman, effective at the close of business hours on November 6, 2025. Srirangan ceased to be a part-time non-official director and non-executive chairman on the bank's board, marking a key leadership change.

Concurrently, Canara Bank received updated credit ratings from Care Ratings Limited on November 6, 2025. Key ratings include a new "CARE AA+; Stable" rating for Tier I Bonds, while Infrastructure Bonds and various Tier II Bonds maintained "CARE AAA; Stable" ratings. Certain Tier II Bonds (Reduced from ₹2,150.00 crore) were reaffirmed as "CARE AAA; Stable."

Care Ratings highlighted Canara Bank's established retail franchise, strong capital adequacy, and improved profitability as key strengths. The bank's majority ownership by the Government of India and its systemic importance further supported the ratings. The outlook on these ratings remains "Stable," reflecting expectations for continued growth, stable asset quality, and comfortable capitalization.