OREANDA-NEWS. February 15, 2010. International rating agency Fitch Ratings has assessed next time activity of Azerbaijan’s DemirBank and affirmed its rating “В-” with forecast ‘Stable”.

The Bank reports that this rating is one of the best among the domestic banks with international rating.

“The affirmation of our rating takes into account acceptable quality of our Bank’s assets in period of the global economic crisis, our stable financing by international financial institutions and acceptable reserve of Bank’s liquidity,” DemirBank informed.

According to reports by the end of 2009 Bank’s restructured credits remained at the unessential level of 0.7%. Simultaneously DemirBank’s equity capital is Bank’s at adequate level. In 2010, Bank’s need in refinancing are manageable and DemirBank plans to continue raising funding from international financial institutions this year. Part of such financing should be received with the support on DemirBank’s international shareholders – European Bank for Reconstruction & Development and Netherlands Development Finance Company (FMO), whose overall equity stake is 35%.

For the first time DemirBank was awarded rating by Fitch in 2004.

The Agency reassesses annually Bank’s activity. DemirBank has also rating “В+” with forecast “positive” from agency Planet Rating.

“DemirBank is the Azerbaijan’s first private bank which was given international rating. Currently its rating indicators are ones of the highest among the domestic banks and forecasts “stable” and “positive” testify of successful dynamics of Bank’s development,” Bank’s deputy chairman of board Yusif Jabbarov said.