Moody's Investors Service Issues Bank Standard B1 Rating

Business Materials 25 July 2007 17:48 (UTC +04:00)

Azerbaijan, Baku / Trend corr.U.Ismaylova / The International Rating Agency of Moody's Investors Service issued rating B1 of Bank Standard on short- and long-term deposits in national and foreign currency, as well as rating of finance stability on Е+ level.

"The recommendations of Moody's Investors Service fully correspond with our plans of corporative development and increase of the quality of Bank Standard," Salim Kriman, the Deputy Manager of the Bank said.

"We are satisfied with Moody's assessment and are considering the rating approval of the current status of the bank. Presently, we have all the prerequisites to improve the bank's rating in 2008. Strengthening its leading positions at the local market, Bank Standard began actively operating in the international arena. New steps on strengthening the bank's international authority will be taken in the near future," Kriman added.

At the end of 2006, Bank Standard took second place on assets -6.7%, credits -5.7% and private deposits -11.3%.