PASHA Bank, one of Azerbaijan's largest banks, is pleased to confirm that Standard & Poor's reaffirmed PASHA Bank's ‘ВВ-‘/'B' long-term and short-term Issuing Bank Default Rating (IBDR). The rating was reaffirmed in a report published on 17 February 2016.

The affirmation reflects PASHA Bank's high importance in the domestic banking sector, as well as the Bank's sound market position and strong capital buffer, which is capable of providing some protection during difficult market conditions.

According to Taleh Kazimov, CEO of PASHA Bank, the latest rating confirms the Bank's position as a leader among private banks in Azerbaijan and demonstrates the confidence of international financial institutions in the Bank.

Taleh Kazimov added: "Despite the increased regional and global macroeconomic risks, Standard & Poor's rating acknowledges Pasha Bank's reliability and strong market position. As a regional corporate investment bank and a partner of the real sector of economy, we are committed to supporting our customers by providing professional expertise, individual approach and financial support."

The S&P's rating reaffirms PASHA Bank's leading position among private banks in Azerbaijan with 100% local capitalisation.