Baku: International rating agency Moody's has affirmed ABB's long-term deposit rating at Ba1, maintaining a stable outlook for Azerbaijan's largest state-owned bank.

According to Azeri-Press News Agency, Moody's assessment highlights ABB's strong market position, competitiveness, and sustainable profitability, which have contributed to the bank's high ratings.

ABB's Baseline Credit Assessment (BCA) has been affirmed at ba2, while the Long-term foreign and local currency Counterparty Risk Ratings (CRRs) and Counterparty Risk Assessment (CR Assessment) ratings remain at Baa3. The affirmation reflects the bank's high capital adequacy and liquidity levels, bolstered by its investments in high-quality financial instruments.

Moody's also acknowledged ABB's strategic move to acquire a controlling stake in Davr Bank, a private bank in Uzbekistan, which is equivalent to approximately 12% of ABB's assets. This acquisition underscores ABB's ongoing efforts to solidify its position in the banking sector.

The Ba1 rating, which has been consistent since July of the previous year, represents the highest rating Moody's has assigned to ABB, positioning it just one notch below investment grade. ABB continues to lead in Azerbaijan's banking industry, supported by robust financial indicators that justify its current rating level.