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Recently, which has become the first Indian bank to receive a rating from the global rating agency S&P Global Ratings?
State Bank of India
IDFC FIRST Bank
Bank of India
Punjab National Bank
IDFC FIRST Bank
IDFC FIRST Bank secured its first international investment-grade issuer rating from S&P Global Ratings in July 2026.
The international credit rating provides a significant boost to IDFC FIRST Bank's strategy to access overseas debt markets and diversify its funding base. This move aligns with a broader trend among major Indian lenders seeking global ratings to optimize foreign-currency resource mobilization and improve standing with global investors. The rating is expected to facilitate better credit terms for the bank's International Banking Unit at GIFT City and support the growth of FCNR(B) deposits. Stable outlook by S&P reflects the agency's assessment of the bank's strong capitalization, granular retail funding, and improved operating leverage.
Date of rating acquisition: July 2026
Agency providing the rating: S&P Global Ratings
Expected cost-to-income ratio improvement: 65 percent to 70 percent from 75 percent in FY2026
Primary operational focus for rating: GIFT City International Banking Unit and foreign-currency funding
B is correct тАФ IDFC FIRST Bank became the latest Indian lender to secure its first international investment-grade issuer rating from S&P Global Ratings in July 2026.
Remember that while large banks like SBI and ICICI already held global ratings, this milestone for IDFC FIRST Bank marks a push toward deeper integration into global financial markets by mid-sized private lenders.
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