ECONOMY


Moody's affirms the rating of Bank of Baku

A+ A

Baku, July 27 AZERTAC

Moody's Investors Service has today taken rating actions on Bank of Baku.

Moody assigned long-term global local-currency and foreign-currency deposit ratings of B3 to OJSC Bank of Baku (Bank of Baku), which are at the same level as the bank's baseline credit assessment (BCA) of b3.

The ratings reflect the bank's moderate capital adequacy and adequate provisioning levels; good pre-provision income generation capacity; and robust liquidity profile.

Bank of Baku is a bank among over 40 commercial banks operating in Azerbaijan. Headquartered in the City of Baku, the capital city of Azerbaijan, the bank is the country's leading provider of consumer loans, with the largest retail loan portfolio among privately owned financial institutions. Around 80% of the bank's loan book was composed mostly of consumer loans, car loans and credit cards as of year-end 2015.

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