Moody's: number of factors hinder improvement of bank ratings in CIS

Economy Materials 23 May 2019 13:46 (UTC +04:00)

Baku, Azerbaijan, May 23


The operating environment in the banking sector of Azerbaijan is improving, Olga Ulyanova, VP-Senior Credit Officer at Moody’s, international credit rating agency, said at the company’s annual summit in Baku, Trend reports.

She said that, for this reason, the agency improved the ratings of 4 of the 5 Azerbaijani banks evaluated in April, namely Xalq Bank, the International Bank of Azerbaijan (IBA), Bank Respublika, and Bank of Baku.

She further noted that forecasts for the CIS are generally positive, with positive expectations prevailing.

"However, there are a number of constraints, such as asset quality, capital, and profitability, which do not allow these ratings to grow even more," she stated.