Baku - APA-Economics. Fitch Ratings has affirmed Pasha Bank’s (PB) Long-term Issuer Default Ratings (IDRs) at 'B+'. The bank has Stable Outlooks, Reuters reported.
The affirmation of PB's ratings reflects its solid capitalisation, comfortable liquidity and manageable asset quality metrics.
The ratings remain constrained by the weak operating environment, bank's still limited franchise and short track record and so far quite high credit losses, potential contingent risks arising from the construction business of the broader group and the bank's planned international expansion, which will require significant capital investment, and uncertainty with respect to the long-term sustainability of the bank's sizeable related party funding.
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