International rating agency Fitch Ratings has affirmed Expressbank OJSC's Long-Term Issuer Default Rating (IDR) at 'B+' with a 'Stable' Outlook. At the same time, the Bank's Viability Rating (VR) has been maintained at 'b+'.
According to Fitch Ratings' assessment, Expressbank's rating reflects the Bank's standalone financial strength, strong capital position, high asset quality, and robust approach to effective risk management. The agency specifically highlighted the Bank's asset quality and capitalization metrics as key strengths supporting the rating.
The report notes that Fitch has also upgraded its operating environment assessment for the Azerbaijani banking sector to 'bb' from 'bb-'. The agency attributes this revision to strengthened banking supervision in the country, broader implementation of risk-based supervisory mechanisms, and maintained macroeconomic stability. Fitch expects financial metrics across Azerbaijan's banking sector to remain generally resilient in 2026–2027.
Fitch Ratings emphasized that Expressbank operates a universal business model, with retail banking as its core activity and micro, small, and medium enterprise (MSME) financing remaining among the Bank's strategic priorities.
The Bank's strong capitalization level was particularly highlighted in the report. The Fitch Core Capital (FCC) ratio stood at 20.6% at year-end 2025, and under the base case scenario, the agency projects this metric to stay above 19% in the coming years. Furthermore, the Bank's liquidity position is assessed as adequate, with liquid assets covering approximately 29% of customer deposits.
The affirmation of Expressbank's international credit rating at 'B+' with a 'Stable' Outlook serves as further international recognition of the Bank's financial resilience, sound business model, and sustainable growth strategy.
