OREANDA-NEWS. May 14, 2012. International rating agency Standard & Poor’s (S&P) has raised the rating of Azerbaijani OJSC AGBank.

The bank reports that S&P has raised AGBank’s long term rating from B- to B level.

" That is already the second positive rating activity of the agency with AGBank’s rating : in March S&P raised forecast of its rating change from negative to stable due to improvement of loan portfolio’s quality. The last action expands AGBank’s opportunities on attraction of financial resources ",- the report says.

As of 1 April the bank’s assets made AZN 321 million which was by 16% (AZN 44.2 million) more versus last year’s same term. Loan portfolio made AZN 211.1 million (+11%). The bank’s shareholder (17,5%) is International Finance Corporation (IFC).