Tue, 30 September
15.1 C
Yerevan
USD: 382.75 RUB: 4.63 EUR: 448.54 GEL: 141.34 GBP: 513.96

Moody’s Investors service international ratings agency leaves Armeconombank’s ratings unchanged

YEREVAN, December 4. /ARKA/. Moody’s Investors Service international ratings agency left Armeconombank’s long-term Ba3 ratings on deposits in foreign and national currencies as well as D- financial stability rating unchanged in 2009, just as a year earlier, the press office of the bank reports.

Despite the adverse impact of the global recession on Armenia’s economy and particularly banking sector, Moody’s Investors Service leaves Armeconomibank’s ratings unchanged the second consecutive year, the press release says.

“This circumstance proves that the bank’s position on the world market is sustainable and key activity indicators are growing stably.”

According to Armeconombank’s press release, the number of bank’s clients has grown by 20,900 and plastic cards by 11,800 since the beginning of this year.
Individuals’ deposits grew by AMD 1 billion and legal entities’ by AMD 0.8 billion.
The bank’s credit portfolio grew by AMD 1.1 billion and demand deposits by AMD 3.3 billon.

Remarkable is also that Moody’s Investors Service’s financial ratings were received by 1,000 best world banks, and Armeconombank was included in the list before other Armenian banks.

Armeconombank applied to Moody’s for ratings in 2006.
As a result, the agency gave E+ financial stability rating and long-term ratings for deposits in drams and foreign currencies to the bank on February 21, 2007.
On April 24, 2007, the agency upgraded the bank’s financial stability rating to D- and long-term ratings on deposits in foreign and national currencies to Ba3.

Armeconombank’s total capital exceeds AMD 8.6 billion.

The bank’s total assets amount to AMD 53 billion, credit investments total AMD 29 billion and individuals’ deposits about AMD 6 billion.

In November 2009, the bank opened a new branch, Shirak.

Now Armeconombank has 35 branches in Armenia and Nagorno-Karabakh Republic. —0—

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img