Azerbaijan, Baku, Sept. 4 / Trend /
An international rating agency, Planet Rating, has assigned the Azerbaijani Azerdemiryolbank a "B +" rating with a "positive" forecast, the bank reported.
The "B +" rating is considered by commercial organizations as a real asset, which reflects Azerdemiryolbank's achievements.
Under the categories "corporate governance", "risk management", "efficiency and profitability" and "business and information" Azerdemiryolbank was assigned a level "B" and for the first time Azerbaijan has been estimated as an "A" in the category of "funding and liquidity".
The international agency, Planet Rating, which has its headquarters in France, operates in more than 60 countries and specializes in assessing banks and credit organizations in the field of microfinance. Azerdemiryolbank, along with other credit programs, has also implemented various programs for micro-loaning. Azerdemiryolbank is the first Azerbaijani bank to receive a rating from the Planet Rating agency.
Under its social policies, Azerdemiryolbank has implemented various programs for micro-loaning, which contributes to the development of small businesses in the country, increasing employment and the welfare of the population, said the Deputy Chairman of the Board Yusif Jabbarov. Azerdemiryolbank's high rating from the Planet Rating agency will allow the bank to develop its relations with international financial organizations and expand its micro-loaning activities.
Azerdemiryolbank also has a rating from the Fitch Ratings agency. Cooperating with Fitch Ratings since 2004, Azerdemiryolbank became the first private bank in the country to obtain an international rating.
Azerdemiryolbank, founded in 1989, is of the country's first commercial banks. The bank's shareholders include large international finance organizations, such as EBRD and FMO. The bank has 32 branches and a department in Baku.