Report informs that Fitch rating agency has spread information on Azerbaijan banking sector.
The agency gave negative rating to 5 banks, including the largest bank of Azerbaijan – International Bank of Azerbaijan (IBA) among 8 banks assessed by them. They didn’t rate 10 banks licensed by Central Bank of Azerbaijan (CBA). IBA has received AZN600 mln injection and the asset worth AZN 5 bln is expected to be allocated for currency transactions in the future.
Beside this, in 2016 Azerbaijan banking sector suffered AZN 1.7 bln loss, including AZN 1.3 bln of IBA.