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10:32 22 July
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Restructuring problem won’t cover IBA’s subsidiaries in Russia and Georgia

Restructuring of International Bank of Azerbaijan’s (IBA) foreign liabilities will not cover IBA-Moscow and IBA-Georgia.

Bank says these subsidiaries don’t have foreign liabilities, operate in comply with those countries’ legislations on the basis of licenses, follow all guidelines set by central banks of these countries.  

 

Currently, IBA-Moscow and IBA-Georgia are among the leading financial organizations of these countries. In October 2016 Moody's Investors Service upgraded IBA-Moscow's long-term local- and foreign-currency deposit ratings to B2 from B3, adjusted baseline credit assessment (BCA) to b2 from b3 and the long-term Counterparty Risk Assessment (CR Assessment) to B1(cr) from B2(cr). The outlook on long-term deposit ratings remained stable.

 

Both IBA-Moscow and IBA-Georgia fulfil their obligations before the customers. 

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