The rating agency Fitch has approved the long-term issuer default rating (IDR) of AccessBank at 'BB +' ( stable) .
As reported in the bank, the stability rating, assessing the risk of one-man action without counting on support from the shareholders, has been upgraded from 'B +' to the level of 'BB-'.
AccessBank was founded in 2002 by organizations such as the Black Sea Bank , EBRD, IFC , KfW, the German consulting company LFS Financial Systems (LFS) and Access Holding. AccessBank is involved in lending to micro and SME businesses. -15D -
Economics
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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A delegation led by Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with key Italian officials during an official visit to Italy, highlighting the strong and multifaceted partnership between the two countries.
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