Moody’s Rating Agency increased the general rating of “Bank of Baku” from B2 to long term stable B1. The new rating was awarded further to the audited reports of “Bank of Baku” OJSC for 2012 and for unaudited reports of the bank for the period ending on November 2013 prepared in accordance with the International Financial Reporting Standards. According to Moody’s opinion, the main factors which impacted the improvement of the rating were strong financial indicators of “Bank of Baku” OJSC and reliable independent lending ability of the bank. As other strong factors the agency sited high quality of assets, and high level of capital adequacy for mitigating any potential losses.
In connection with this achievement, Chairman of the Management Board of “Bank of Baku” OJSC, Farid Huseynov stated: “Moody’s Rating Agency upgraded the rating of our bank for 2012 to long term stable. This year, as a result of efforts of everyone in the bank, our rating was increased to B1. We are truly happy that all our efforts for maintaining the financial stability of the bank, keeping the high level of quality of the assets, accurate calculation and mitigation of risks, increase of customer satisfaction proved to be effective and that was evidenced by our new rating. For future we will continue our efforts to maintain our rating and the trust of everyone in the bank as high as possible.
I sincerely congratulate all shareholders, personnel and all of our customers with this upgraded rating of the Bank!”
You can review further details from the official report produced by Moody’s Rating Agency following this link.
Please feel free to call the Bank at its Call Centre, at 145, in order to get more details on various products and services offered by “Bank of Baku” to its customers. You can also address your questions to the Bank by visiting our dedicated section in Facebook at: http://www.facebook.com/bankofbaku.
