Baku, Azerbaijan, June 8
By Azad Hasanli – Trend:
Standard & Poor's (S&P) Global Ratings has affirmed its 'BB-/B' long- and short-term counterparty credit ratings of Azerbaijan’s PASHA Bank with negative outlook.
The affirmation of the ratings of PASHA Bank reflects the S&P’s forward-looking view that the bank will likely further strengthen its already sound market position in Azerbaijan.
“We think that the bank's business stability may benefit from further development of its overseas business in Turkey and Georgia,” reads the S&P report.
The bank will be able to maintain adequate asset quality with NPLs (nonperforming loans) not exceeding the system average, according to the S&P analysts.
“We also expect that the bank will maintain adequate capitalization, which supports PASHA Bank's good ability to absorb credit losses,” the experts added.
PASHA Bank was founded in 2007. The bank renders a range of corporate banking services, including issuance of loans, operations in the securities market, asset management, and treasury services.