International rating agency Moody's has upgraded the rating of the Bank of Baku in a recent report.

Thus, the bank's long-term deposit rating in local and foreign currency has been increased from Caa1 to B3. The agency also upgraded Bank of Baku's base credit rating from Caa1 to B3, long-term counterparty risk rating in local and foreign currency and long-term counterparty risk rating from B3 to B2.