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S&P Global Ratings affirms Kapital Bank rating, maintains “positive” outlook

14 February 2026 12:28 (UTC +04:00)

S&P Global Ratings has affirmed the credit rating of Kapital Bank and maintained a “positive” outlook on the bank, APA-Economics reports.

The agency affirmed Kapital Bank’s long- and short-term issuer credit ratings at “BB-/B” and stated that the outlook remains “positive.”

S&P noted that Kapital Bank, one of Azerbaijan’s three largest banks, is further strengthening its position in the retail market by expanding its digital ecosystem under the Birbank brand, which integrates financial and non-financial services. According to the agency’s assessment, this approach enhances customer loyalty, particularly amid recent legislative changes related to salary projects and pension payments.

S&P added that the bank’s loan portfolio grew more weakly than expected in 2025, expanding by approximately 4%. This dynamic contributed to an improvement in Kapital Bank’s capitalization level.

The agency forecasts that the bank’s risk-adjusted capital (RAC) ratio will be in the range of approximately 5.75%–6.25% in 2026–2027.

According to S&P, over the next 12–18 months, Kapital Bank’s digital initiatives could further strengthen its leading position in the retail financial market and create additional positive rating potential amid declining economic risks.