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Standard & Poorâ€™s rises AGB rating

Standard & Poorâ€™s rises AGB rating

09 April 2012 14:32 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Standard & Poor’s Ratings Services revised its outlook on Azerbaijan-based AGBank to stable from negative. At the same time, the long-and short-term counterparty credit ratings were affirmed at ’B-/C’.

According to Agency, AGBank has improved the credit quality of its loan portfolio.

The bank has managed to achieve better funding diversification by shifting toward a higher share of customer deposits in liabilities, as well as increasing maturities of its wholesale borrowings.

Remind that, AGBank gas been in operation since 1992. The bank operates 16 branches.

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