The international rating agency Fitch Ratings updated ratings of the International Bank of Azerbaijan – raised the long-term Issuer Default ratings ( “IDRs”) to the extent of “B”, and changed the outlook from “stable” to “positive”
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Changes are explained by a number of following factors: a stable structure and quality of MBA assets, its high yield in recent years has formed a robust capital buffer and liquidity. Asset quality is estimated as satisfactory. Also reduced risks associated with a short open currency position of the bank.
The strong capital position of the International Bank of Azerbaijan reduces currency risks for a loan profile and sufficiently resistant to serious currency crises. The capital adequacy ratio of the bank is about 30%, far exceeding regulatory requirements.
In mid-April, the international rating agency Moody’s also revised the IBA ratings by changing the forecast from the “stable” to “positive” and increasing the credit rating by one step with “B3” to “B2”.
Detailed information on the universal useful products and services of the International Bank of Azerbaijan can be obtained from the branches and branches of the bank, on the official website of www.ibar.az, by calling the information center for the short number 937, as well as on the official page on Facebook.