International rating agency Fitch has revised ABB Bank's ratings, upgrading the Bank's long-term issuer default rating from BB to BB+. Simultaneously, ABB Bank's viability rating was upgraded from bb to bb+. The outlook on the ratings is 'Stable'.
These are the highest ratings assigned to ABB Bank by Fitch in the last 15 years. Overall, ABB Bank's international ratings are currently the highest in the country's financial sector.
The rating upgrade is driven by the preservation of ABB Bank's strong financial profile and improvement in its risk profile. According to Fitch experts, the Bank has strong market positions, a stable balance sheet structure, and solid financial metrics. It is expected that in the medium term, the Bank's loan portfolio will continue to grow, while asset quality and profitability will remain at high levels.