The international rating agency Moody's Investors Service changed the rating outlook IBA - Moscow (a subsidiary of the International Bank of Azerbaijan).
According to the agency, the structure within the international scale moved from B3 "Stable" to B3 "positive." This is primarily due to the fact that in July this year JSC International Bank of Azerbaijan made an additional contribution to the authorized capital of IBA - Moscow in the amount of 1.25 billion Russian rubles, which is the most important event in the past 5 years.
The report notes that in recent years, the bank's asset quality has improved significantly reduce its dependence on parent bank funding through the issuance of its own bonds, with the main strategy is to continue to diversify sources of funding.
IBA - Moscow was founded in 2002, all of its shares belong to JSC International Bank of Azerbaijan. Currently, the Bank's network consists of 14 sales offices in Moscow, St. Petersburg and Yekaterinburg. -17D-
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