Moody's ups Azerbaijan banks view to stable

The outlook for Azerbaijan's banking system has been changed to stable from negative, reflecting the recent stabilization in the banks' asset quality and liquidity and improving profitability and capitalization, Moody's Investors Service said in a new report.

The banks also benefit from the relatively stable macroeconomic environment within Azerbaijan, while low banking penetration offers opportunities for long-term growth, Moody's said.

While the key outlook drivers have stabilized, this stabilization occurred at a very weak level and there remain difficult challenges, the agency added.

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