Moody's renews ratings of Azerbaijani bank

Moody's Investors Service has affirmed International Bank of Azerbaijan’s (ABB) Ba3 long-term local and foreign currency bank deposit ratings and changed the outlook on these ratings to positive from stable, Report informs referring to the bank’s website.

Concurrently, Moody's affirmed the bank's b1 Baseline Credit Assessment (BCA).

The affirmation of the bank's BCA and Adjusted BCA at b1 reflects a sustained track record of improving asset quality and profitability, the bank's strong capital adequacy and highly liquid balance sheet with limited asset risk.

Moody's expects the problem loan ratio will decline further and remain below 4% in the next 12-18 months.