YEREVAN, June 18. /ARKA/. International Fitch Ratings agency has published Armenian Ardshinbank’s Long-term Issuer Default Rating (IDR) at “B+”, outlook negative, the bank’s press office reports.
This means the bank’s rating is now similar to the country’s ceiling, which is the best indicator for a private company.
In January 2015, Fitch lowered Armenia’s local and foreign currency IDR from “BB-“ to “B+”, with outlook kept stable.
Ardshinbank is the only company in Armenia having ratings from two international rating agencies – Moody’s and Fitch, says the bank’s report.
Ardshinbank CJSC (Ardshininvestbank before renamed Ardshinbank on November 13, 2014) was registered in February 2003. Ardshinbank has 55 branches, one of the largest branch networks in the country.
The bank’s assets totaled AMD 370.1 billion in the first quarter of this year (1% growth) and liabilities AMD 321.9 billion (0.8% growth).
Its total capital amounted to AMD 48.2 billion (2.3% growth) and loan portfolio AMD 239.1 billion (8.7% growth).
The bank’s net profit for the 1st Q 2015 amounted to AMD 725.6 million. ($1 – AMD 474.44). –0–
