The long-term issuer default rating in foreign currency of Unibank is kept at the level B, with the former stable outlook changed to negative.
According to the the international rating agency Fitch Ratings, the bank's short-term rating is the same with a stability rating B, but with the unrated Support Rating Floor.
According to Fitch, candidates for the downgrade are also JSC Demir Bank (B), JSC Ata Bank (B-), and JSC AG Bank (CCC).
JSC Unibank was created in October 2002. In the authorized capital 66.21% belongs to individuals, and 33.79% - to legal entities, including 12.15% to EBRD and 6.68% - to the German company DEG. - 17D-
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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