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Tuesday, 05 June 2018 10:30

Fitch upgrades IBA’s Viability Rating

Fitch upgrades IBA’s Viability Rating

The international rating agency Fitch has upgraded the financial Viability Rating (VR) of the International Bank of Azerbaijan to “b-”. The Long-Term Issuer Default rating was revised to “B-“, Outlook Stable, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of Fitch.

The upgrades of the bank's ratings follow the improvement in profitability indicators and declining pressure of the open currency position on the IBA capital.

IBA successfully completed the process of balance sheet restructuring, resulting in the improved liquidity and quality of the loan portfolio.

According to the results of the first quarter of 2018, the coefficient of adequacy of Tier 1 capital and total capital was 19.2% and 20.5%, respectively, which significantly exceeds current regulatory standards.

During the first quarter of 2018, the coefficient of adequacy of Tier 1 capital and total capital amounted to 19.2 and 20.5 percent, respectively, which significantly exceed the current regulatory standards.

More details:  https://www.fitchratings.com/site/pr/10033378

Person in charge of the newsline: Fidan Isayeva

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