Fitch Ratings affirms long-term Issuer Default Rating (IDR) of ACBA-CREDIT AGRICOLE BANK at B+ level with stable outlook

YEREVAN, April 4. /ARKA/. Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of ACBA-CREDIT AGRICOLE BANK at the level of B + with a stable outlook, the Yerevan-based bank reported.

The Fitch said this is the highest rating assigned by Fitch to Armenia-based companies. It confirms the leading position of ACBA-CREDIT AGRICOLE BANK and its transparent financial structure. Fitch Ratings said also the bank has been assigned this rating due to its internal financial capacity.

“When assigning the rating, the bank’s absolutely leading position in financing the agricultural sector, the saturation of the infrastructure, including the presence of branches in all regions of the country, as well as a high level of liquidity, was taken into account,” the bank quoted the international rating agency as saying.

The Fitch Rating also notes that the bank has been focused on improving the quality of assets. This, in turn, helped and in the future will help reduce the riskiness of assets and increase the profitability.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0-

spot_img

POPULAR

Institutional Trust and Portfolio Diversification: Renshin LLC Bonds Debut on the AMX

A major milestone in the institutional alignment of Armenia’s financial and real sectors was recorded on July 8, as bonds issued by Renshin LLC—a leading real estate developer—were officially listed on the Armenian Securities Exchange (AMX).

Strong banks’ capital and liquidity positions mitigate risks to Armenia’s financial stability – Fitch

Risks to financial stability in Armenia are mitigated by banks' strong capital and liquidity positions, according to the international ratings agency Fitch Ratings.

Fitch: Armenia’s International Reserve Adequacy to Remain Below That of Similar-Rated Countries by 2028

Armenia's international foreign exchange reserves have reached a record high, but their sufficiency to cover the country's external needs in the medium term will remain below the average for countries with similar credit ratings, according to a report by the international rating agency Fitch Ratings.

Dollar and euro exchange rates against the Armenian dram rose, while the ruble weakened: Central Bank

The average market exchange rate for the US dollar against the Armenian dram, determined on the Armenian foreign exchange market as of July 15, 2026, rose by 0.51 points compared to July 14, reaching 367.25 drams.

Euro and dollar exchange rates against the Armenian dram rose, while the ruble fell: Central Bank of Armenia

The average market exchange rate for the US dollar to the Armenian dram, established on the Armenian foreign exchange market as of July 10, 2026, increased by 0.26 points to 367.38 drams.

LATEST NEWS

spot_imgspot_imgspot_img