Standard & Poor’s affirmed PASHA Bank’s rating

Baku. 13 December. REPORT.AZ/ Standard & Poor’s international rating agency confirmed rating of PASHA Bank OJSC, Report was informed in the bank.

According to information, long term issuer default rating (EDR) has been confirmed at ‘BB’, the short term rating at ‘B’.

According to Chairman of PASHA Bank’s Board of Directors Taleh Kazimov, reaffirmation of the rating is related to bank’s position in the market: “Despite macroeconomic challenges, we, as regional financial institution, kept on supporting our clients and providing professional expertise and individual service. Thus, reaffirmation of PASHA Bank’s rating underlines retention of stable financial position and growing confidence of clients to us, as a business partner”, T.Kazimov summarized.

Notably, Standard & Poor’s noted in its report the importance of PASHA Bank for Azerbaijani banking sector, and in its assessment of bank’s market position, takes into account significant market share in segment of services rendered to corporate clients, as well as experienced management team.