Fitch Approves Forecast on Shareholder of Ziraat Bank Azerbaijan at Negative Level
The international rating agency Fitch approved the forecast of Turkish bank Ziraat Bankası A.S. at the negative level and the long-term credit rating at BBB-.
The rating agency notes that Ziraat is a major Turkish bank, with a 13% -14% market share and is the only one in subsidizing agricultural loans.
Fitch notes Ziraat Bank periodically receives financial assistance from the state and has a low level of problem loans - 1.6%.
Note that Ziraat Bankası A.S. is a shareholder of Ziraat Bank Azerbaijan ASC. -----71D
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- Economics
- 13 October 2016 12:26
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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