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PNB Housing Finance's credit rating has been upgraded by India Ratings from 'IND AA+' to 'IND AAA' with a stable outlook, reflecting its consistent improvement in profitability, strong asset quality, and diversified loan portfolio that reduces concentration risks. The rating also benefits from Punjab National Bank's strategic stake in the company. Meanwhile, Capital India Finance Ltd has appointed former SBI executive Surender Rana as executive vice chairman for three years from November 18, 2025. His extensive experience in MSME and agriculture financing strengthens CIFL's leadership as it focuses on governance-led and scalable growth.
PNB Housing Finance has received an upgrade in its credit rating from India Ratings for Non-Convertible Debentures (NCDs) and bank loans, moving from 'IND AA+' to 'IND AAA' with a stable outlook. The rating agency cited the company's strong performance across key business metrics, consistent improvement in profitability, and steady enhancement of asset quality. The diversification of its loan portfolio, which has reduced concentration risks, was also highlighted as a positive factor. The agency further noted the strategic stake held by Punjab National Bank in PNB Housing and the shared legacy, which reinforces confidence in the company's long-term stability. Advertisement
The upgrade comes amid PNB Housing's steady track record of financial performance and its efforts to maintain a balanced and well-structured loan book. Analysts note that the AAA rating reflects both the company's operational resilience and its ability to manage risk effectively while pursuing growth in the housing finance segment.
In a separate development, Capital India Finance Ltd (CIFL) has appointed Surender Rana, former Deputy Managing Director for SME and Agri Business at State Bank of India, as executive vice chairman. The appointment, effective from November 18, 2025, is for a three-year term, subject to shareholder approval. Rana brings over 34 years of experience in banking and is recognized for leading significant transformations in MSME and agriculture financing, credit and risk management, and policy development. CIFL stated that his inclusion strengthens its leadership team as the company focuses on scalable growth driven by governance and operational excellence.
Source PTI
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