Fitch Ratings affirms Pasha Yatirim Bankasi A.S.rating

Baku. 13 February. REPORT.AZ/ Fitch Ratings has affirmed Turkey-based Pasha Yatirim Bankasi A.S.'s (PBTR) National Long-Term Rating at 'BBB+(tur)'. The outlook is stable.

Report informs, the official website of the rating agency writes. 

Notably, Pasha Yatirim Bankasi was established by the acquisition of TAIB Bank shares owned by Turkish "Aksoy Holding" by Azerbaijan's "Pasha Bank" OJSC. Currently, the Azerbaijani side controls 99.92% of shares.

The National Rating is driven by Fitch's assessment of parental support from the bank's shareholder. The agency has also affirmed Azerbaijan's Pasha Bank OJSC at B+/Stable).