The international rating agency Moody's Investor Service confirmed the rating of Azerbaijan’s Kapital Bank. It is one of the highest among banks in the country, Report informs.
Moody’s affirmed the BCA and Adjusted BCA of Kapital Bank at b. The agency also affirmed the long-term local and foreign currency deposit ratings of Kapital Bank at Ba3.
The outlook on the long-term local and foreign currency deposit ratings of Kapital Bank was changed to positive from negative.
The change of outlook on the bank's local and foreign currency long-term bank deposit ratings to positive from negative reflects the expected improvement of the bank's standalone credit profile in the next 12-18 months.
“The affirmation of the bank's BCA and Adjusted BCA at b1 and the local and foreign currency long-term bank deposit ratings at Ba3 reflects healthy performance of the loan book as well as strong net profit and capital cushion. As of year-end 2020, the share of problem loans accounted for 3.3% of gross loans (year-end 2019: 4.6%). Consistently solid capitalization with TCE/ RWA of 22.3% at year-end 2020, and strong bottom-line profitability enable the bank to absorb expected losses and pay out dividends as in previous years,” reads the report.
Moody's also notes that for several years Kapital Bank's loan portfolio has been of higher quality compared to its rivals. Kapital Bank, the first bank in the country, is part of PASHA Holding and provides services to the population in 102 branches and 19 offices, having the widest service network in Azerbaijan.
More detailed information about the bank's products and services can be obtained on www.kapitalbank.az, the bank's social network pages, as well as by calling 196, the customer service center.