The international rating agency Standard and Poor’s reaffirmed the high rating of PASHA Bank, leading corporate bank of Azerbaijan. Hence, the agency reaffirmed the long-term Issuing Bank Default Rating (IBDR) at ‘ВВ-‘, and short-term IBDR at ‘B’.
The reaffirmation of the rating is based on an assessment of the market share of PASHA Bank in the corporate lending segment, indicators of geographical diversification compared to similar financial institutions, the quality of bank assets and other fundamental aspects.
The Chairman of the Executive Board of PASHA Bank Taleh Kazimov noted that the endorsement of the high rating by the Standard & Poor's agency once again demonstrates the recognition of the Bank as one of the leading financial institutions of Azerbaijan by the international expert community.
“The experts affirmed not only the stability and strong market position of the Bank, but also the high quality rate of expansion of the business geography of PASHA Bank in Azerbaijan, Turkey and Georgia. All this allows strengthening our position as a regional corporate investment bank and the reliable partner of the real sector”, as T. Kazimov concluded his speech.
This rating is among the highest of all private banks in Azerbaijan with 100% local capital.