Moody's International Rating Agency revised the ratings of "International Bank of Azerbaijan" OJSC. The agency raised the basic credit assessment (BCA) and deposit ratings of the "International Bank of Azerbaijan" OJSC.

IBA's BCA rating has been upgraded from b2 to b1. The bank's long-term deposit rating in local and foreign currency has increased from B1 to Ba3. IBA's long-term deposit rating forecast is rated "Stable".

The positive changes in the bank's ratings are mainly due to the increase in Azerbaijan's sovereign rating, as well as IBA's strong capital adequacy indicators, average risk rating of its assets, and high liquidity balance. The bank has a strong capital buffer against external influences. The increase in long-term deposit rating is due to IBA's positive solvency.

Moody's agency predicts further improvement of business opportunities and profitability of banks, including IBA, against the background of increasing general economic activity in the country.