The Moody’s International Rating Agency raised the forecast for the Republic Rating of the Republic to “Positive” at once, while confirming the long-term liabilities rating in local and foreign currency.
Moody’s Analysts associate an increase in the rating of rating with a good quality of the loan portfolio during the pandemic period. Due to the high standards of credit risk management in the Bank of the Republic, the influence of the pandemic and quarantine measures on the bank’s loan portfolio was moderate.
The change in the forecast reflects the expected improvement in the bank’s creditworthiness against the background of an improved business environment. Moody’s also notes that the coefficient of problem loans of the bank will remain in a stable low level.
The Bank of the Republic was established in 1992 and is among the five leading banks of Azerbaijan. Among the shareholders of the bank are the largest financial institutions in Germany – DEG Investment Corporation (member of the KFW and SIDT Bank Group) and Sparkassen International Development Trust (SPARKASSEN-FINANZGRUPPE Financial Group.)