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Fitch estimates IBA's total remaining unreserved problems at over AZN3bn

Fitch estimates IBA

13 April 2016 08:46 (UTC +04:00)

Baku. Yegane Lachinzade – APA-Economics. International Bank of Azerbaijan (IBA, BB/Negative/b-) managed to preserve its regulatory total capital ratio at around 12% as the effect of the capital hit from devaluation was largely offset by transferring from its balance sheet AZN3bn of bad loans and the corresponding reduction in IBA's RWAs, says Fitch Ratings’ report.

Fitch estimated IBA's total remaining unreserved problems at over AZN3bn (3.4x of end-2015 regulatory capital), so the AZN500m capital injection expected in 2Q16 will need to be accompanied by additional bad loan buy-outs to fully restore the bank's solvency.

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