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The long-term rating of International Asset Bank is raised to B+

The long-term rating of International Asset Bank is raised to B+

In March 2017, the rating committee of "BCRA – Credit Rating Agency" AD assigned the following financial strength ratings of International Asset Bank AD:

 

  • Long-term financial strength rating B+, "stable" perspective, short-term rating B;
  • Long-term rating on the national scale BB (BG), "stable" perspective, short-term rating on the national scale B (BG).

 

The improved indicators in the evaluation of the Agency are a result of the stable development of the financial institution as well as of its better performance in 2016. For the past year, International Asset Bank AD registered one of its biggest net profits (after taxes), amounting to BGN10.3 mln., which is 145% higher compared to 2015. The assets of the bank at the end of 2016 also registered an increase for a consecutive reporting period, exceeding BGN 1.3 bln. In line with the development, the return on equity rose for a third consecutive year and for the last year the increase was significant: 10.85% at the end of 2016 compared to 4.81% at the end of 2015. The solid, continuing improvement of levels of quality indicators, including mainly liquidity and capital adequacy ratios, combined with the successful performance during the AQR and stress tests conducted for the first time in Bulgaria in 2016, also contributed to the greater level of confidence. Last but not least, the sustainable growth and diversification of the deposit base and loan portfolio together with the constant growth of the customer base and the expansion of the product portfolio, complement the more important conclusions of the evaluation.

 

"BCRA – Credit Rating Agency" AD is the third full rating agency in the EU, registered under Regulation (EU) №1060/2009 of the European Parliament and the Council.The credit ratings issued by BCRA are valid throughout the EU and are fully equal to those of other recognized by the European Securities and Market Authority without territorial or other restrictions.

 

International Asset Bank AD is one of the most well-established Bulgarian financial institutions with more than 27 years of successful experience on the local market. The Bank has a branch network of 100 points of sale and offers a wide range of innovative financial services to all customer segments, combining individual approach and flexible conditions with reliable and advanced technological platforms. More information about International Asset Bank AD and its products, services and integrated financial solutions can be found on the website: www.iabank.bg.