Mon, 6 October
16.1 C
Yerevan
USD: 382.76 RUB: 4.67 EUR: 449.25 GEL: 140.62 GBP: 514.85

Moody’s upgrades Converse Bank’s ratings

YEREVAN, July 7. /ARKA/. Moody’s Ratings has upgraded Converse Bank CJSC’s long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

Concurrently, Moody’s has upgraded the Bank’s Baseline Credit Assessment (BCA) and Adjusted BCA to ba3 from b1. The long-term local and foreign currency Counterparty Risk Ratings (CRRs) were upgraded to Ba2 from Ba3, and the long-term Counterparty Risk Assessment (CR Assessment) was upgraded to Ba2(cr) from Ba3(cr).

Converse Bank Deputy CEO and CFO, Grant Akopian, commented on the rating upgrade: “The upgrade of Converse Bank’s ratings by Moody’s reflects the sustained improvements in our asset quality, stable capital adequacy, and strong profitability and liquidity metrics. This recognition also highlights the effective collaboration we have with international institutions and partners, which enables us to consistently strengthen our position in the financial market”.

According to Moody’s report, the decline in the problem loan ratio was a key factor in the rating upgrade. The report further notes that capital adequacy remains one of Converse Bank’s key credit strengths, providing a buffer against potential asset risks.

Converse Bank is supervised by the Central Bank of Armenia.-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.

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.

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.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img