Moody’s upgrades BZWBK outlook

MOODY’S, the international financial research, analysis and ratings company, has changed its outlook with regard to BZWBK, AIB’s Polish subsidiary.

It has upgraded the bank’s financial strength rating from stable to positive — citing its strong organic growth, ongoing improvement in its financial fundamentals and its conservative risk profile as key motivators.

“This highlights the quality of AIB’s Polish operations, which contributed 12% to first-half pre-tax profits this year and grew by 35% year-on-year,” said one Dublin-based analyst.