Standard & Poors keeps AGBank rating unchanged
International rating agency Standard and Poors,
known for its conservative slant, has announced that the long-term
rating of Azerbaijan’s AGBank remains unchanged at B-, with a
stable short-term C rating.
AGBank’s assets amount to 237.7 million manats ($297.1 million), an increase of 15 percent from 2008. Its loan portfolio increased 19 percent in comparison with last year to reach 186.2m manats ($232.7m). The funds drawn from private individuals accounted for most of the increase in assets. Thus, term deposits of natural entities exceeded 82m manats ($102.5m), 19m manats over early 2009. Undoubtedly, the 30 percent increase in deposits reported in 11 months resulted from the bank's high image and advanced positions in the domestic market, AGBank said in a statement. *
AGBank’s assets amount to 237.7 million manats ($297.1 million), an increase of 15 percent from 2008. Its loan portfolio increased 19 percent in comparison with last year to reach 186.2m manats ($232.7m). The funds drawn from private individuals accounted for most of the increase in assets. Thus, term deposits of natural entities exceeded 82m manats ($102.5m), 19m manats over early 2009. Undoubtedly, the 30 percent increase in deposits reported in 11 months resulted from the bank's high image and advanced positions in the domestic market, AGBank said in a statement. *
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