AmrahBank intends to obtain international rating
Azerbaijan, Baku, March 3 / Trend N. Ismayilova /
AmrahBank intends to obtain an international rating of Fitch Ratings Agency on the result of activity for 2010, the bank's Business Development Department Director Khalig Ildirimzade said.
"We have reached an agreement with the rating agency on providing us with the rating and now finishing work is underway to be prepared for the evaluation process," Ildirimzade said.
He said that the rating will assess the bank's activity as a result of 2010, and will be obtained during 2011.
Amrahbank is one of leading commercial banks of Azerbaijan. It was established in 1993. The bank is leader among local banks on the number of branches (23). The authorized capital of the bank exceeds 14 million manat. Some 49 percent of shares belong to the International Investment Bank based in Bahrain.
The official exchange rate is 0.7940 manat to $1 on March 3.