Fitch withdraws Azerbaijani bank

  15 June 2016    Read: 1613
Fitch withdraws Azerbaijani bank
Fitch Ratings has affirmed Azerbaijan-based Unibank Commercial Bank`s (Uni) ratings and simultaneously withdrawn them, the agency said June 15.
The following ratings have been affirmed and withdrawn:

Long-Term Issuer Default Rating: `CCC`

Short-Term Issuer Default Rating: `C`

Viability Rating: `f`

Support Rating: `5`

Support Rating Floor: `No Floor`

Unibank JSC was established Oct. 15, 2002, as a result of the merger of two private commercial banks in Azerbaijan - Mbank and Promtexbank.

Unibank`s shareholders are as follows: Eldar Garibov - 68.3384 percent, Zemfira Jafarova - 5.5 percent, the European Bank for Reconstruction and Development - 15.1515 percent, German Investment, German Investment Corporation - 8.3333 percent, minority shareholders - 2.6768 percent.

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