Fitch analysts noted that the rating increase the stability of Capital Bank reflects the improved performance of the bank and strong capitalization. .
"The structure has a good level of liquidity, as evidenced by the lack of material non wholesale borrowing and good volume of deposits," says the report, with the caveat that the issuer default rating of Capital Bank can be reduced by decreasing the country's sovereign rating, a significant reduction of the importance of the system of the bank or in case if necessary, the bank does not receive timely support. However, at the present time, Fitch believes such scenarios are unlikely.
In addition, the agency notes that the stability rating of Capital Bank may be increased if this structure is able to maintain the high quality of the assets in the retail portfolio, which in turn will allow it to continue its activities at a good level.
JSC Capital Bank (former Savings Bank) is the oldest financial structure of the country. The main owner of the bank's securities is Pasha Holding (99.8%), while individuals account for 0.2%. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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