Fitch Ratings reaffirmed PASHA Bank’s high rating

International rating agency Fitch Ratings reaffirmed the high rating of leading corporate bank of Azerbaijan – PASHA Bank.

The bank’s long-term foreign currency Issuer Default Rating (IDR) as and short-term IDR have been reaffirmed as ‘B+’ and ‘B’, respectively. This rating is the highest among all privately-owned banks in Azerbaijan with 100% local capital.

The high ratings reflect the bank's reasonable financial metrics, comfortable capital and liquidity positions in the last 12 months. The rating agency also factors in PASHA Banks systemic importance in the market.

It should be noted that the Fitch Ratings assigned PASHA Bank’s first rating in September 2012.