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Tue, May 13th, 2025
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BANKS
- Azerbaijan
Fitch affirms Azerbaijan’s Expressbank at ‘B’, outlook Stable

Fitch Ratings has affirmed Azerbaijan-based Expressbank Open Joint Stock Company’s (EB) long-term Issuer Default Rating (IDR) at ‘B’ with a Stable outlook.

Fitch said in a report that it had withdrawn the Support Rating of ‘5’ and the Support Rating Floor of ‘No Floor’ on EB as they were no longer relevant to the agency’s coverage following the publication of our updated Bank Rating Criteria on 12 November 2021.

“The ratings of EB reflect its limited franchise (with a market share of 1.6 percent by gross loans) in the cyclical and oil-dependent Azerbaijani operating environment, recent expansion into a fairly new segment of consumer lending after lumpy related-party loans were repaid in 2019, a steady shrinkage of the interest spread due to intensified competition in the Azerbaijani banking industry and earnings volatility over recent years,” Fitch said.

“However, these risks are mitigated by the bank’s solid capital and liquidity buffers, providing EB with a reasonable safety margin.”

Apr 29, 2022

DATA SNAPSHOT

BANKS
- Azerbaijan
Fitch affirms Azerbaijan’s Expressbank at ‘B’, outlook Stable
TRADE
- Uzbekistan
Uzbekistan’s foreign trade turnover at $13.15 bln in Q1, 2022
ECONOMY
- Belarus
Belarus inflation up 15.9% yr/yr in March-Statistics Committee
ECONOMY
- Georgia
Remittances to Georgia rise 3% yr/yr to $193 mln in March-central bank
THE TRIBUNE
- Eurasia
The Tribune suspends publication
HEALTH
- Covid-19
COVID-19 Eurasia Roundup
The Tribune keeps you up-to-date with the latest vaccines and infection data across the region.
OPINION
- Kazakhstan
OPINION-Kazakhstan’s Reforms Should Be More Than Just Show-FOREIGNPOLICY
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