Mumbai, August 14, 2026: IDFC FIRST Bank is pleased to announce that S&P Global Ratings has assigned the Bank its inaugural international investment-grade issuer credit ratings of ‘BBB-’ long-term and ‘A-3’ short-term, with a Stable Outlook.

Commenting on the rating, Mr. Sudhanshu Jain - Chief Financial Officer & Head Corporate Centre, said, "We are delighted to receive our first international investment grade Rating from S&P with a Stable Outlook.

We view this rating as an important milestone in our progress. The investment-grade rating is expected to enhance the Bank's standing with global investors and financial institutions, support access to international funding markets, facilitate Standby Letter of Credit (SBLC) lines, strengthen foreign currency funding at the Bank's GIFT City International Banking Unit, support mobilisation of FCNR(B) deposits, and deepen correspondent banking and cross-border trade finance relationships.” Key excerpts from S&P Global Ratings' rating rationale: • Expects IDFC FIRST Bank to maintain strong capitalization over the next 18-24 months, with its Risk-Adjusted Capital (RAC) ratio projected at 10.0%-10.5%, supported by regular capital raising, improving profitability and a low dividend payout policy.

• The agency also noted the Bank's demonstrated ability to access equity markets and raise capital to support growth.

• S&P Global Ratings expects further improvement in the Bank's profitability, supported by healthy revenue growth, declining credit costs and improving operating leverage. The agency expects the Bank's cost-to-income ratio to improve to 65%-70% from 75% in FY2026 over the next two years.

• S&P expects the Bank's asset quality to remain stable, supported by technology-driven underwriting, portfolio diversification and a growing focus on lower-risk lending segments. The Stable Outlook reflects the agency's expectation that the Bank will maintain strong capitalization, manageable asset quality risks and a granular retail funding profile over the next two years.

• S&P noted the Bank's experienced management team and strong digital capabilities, which have supported the expansion of a scalable retail banking franchise with nationwide reach.

• S&P further highlighted the Bank's strong funding profile, with a CASA ratio of 50.8% as of June 30, 2026.

The investment-grade rating is expected to strengthen the Bank's access to international markets and funding sources, support trade and SBLC lines, foreign currency funding, FCNR(B) deposit mobilisation, correspondent banking relationships and cross-border trade finance activities.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR