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Thursday, March 30, 2017

International Bank of Azerbaijan receives stable outlook rating from Fitch

The International Bank of Azerbaijan has had its long-term foreign currency issuer default rating confirmed as having a "stable" outlook by Fitch Ratings International Rating Agency.

The BBB- rating reflects that the company is satisfactory at the moment.

The bank was given a short-term IDR rating of "B" and a sustainability ratine of "B-." It received a "3" level support rating and a "BB" level of support rating for the long-term.

The International Bank of Azerbaijan is the state-controlled bank in the Republic of Azerbaijan. It consists of 36 branches and is headquartered in Baku. It has 95 service outlets in more than 40 cities.

The bank offers the largest asset scope, customer base and international business of all banks int he South Caucasus region. It has more than 30,000 corporate customers and 400,000 individual customers and more than 1,300 employees.