NEWS FEED
Zoom
19:39 14 December
11:13 14 December
TOP 5

Fitch: Any extraordinary direct capital support from Azerbaijan authorities to Expressbank is very uncertain


Fitch Ratings has affirmed Azerbaijan-based Expressbank’s Long-Term Issuer Default Rating (IDR) at 'B' with a Stable Outlook.

 

The affirmation of EB's ratings reflects only limited changes to its credit profile over the last 12 months. The ratings take into account EB's limited franchise in the difficult Azerbaijan operating environment and a high level of related-party lending. Positively, the ratings reflect EB's solid capital buffer, still reasonable, albeit moderately deteriorating, asset quality, limited exposure to foreign currency lending and ample liquidity. The Stable Outlook reflects Fitch's expectation that, despite the potential for some further asset quality deterioration, this should be covered by pre-impairment profits and additionally mitigated by the bank's solid capital buffer.

 

Although Fitch believes some regulatory forbearance may be available for the bank, in case of need, any extraordinary direct capital support from the Azerbaijan authorities is very uncertain.

 

Related news releases

VİDEO NEWS

PHOTO NEWS

  • First Vice-President Mehriban Aliyeva met with delegation le...
  • 181 UXOs found in Khizi
+2
EXCHANGE RATE
FOREX
/ 14 December, 2017

USD
1.7001
 
EUR
2.0116
 
RR
0.029