Thursday, September 2 2010 18:27
Moody's preserves Ardshininvestbank's ratings
ArmInfo. Moody's has left Ardshininvestbank's ratings unchanged: long-term Ba2 and short-term Not Prime for AMD deposits and long-term Ba3 and short-term Not Prime for foreign exchange deposits. BFSR rating has not been changed either.
The press service of Ardshininvestbank reports that the bank received BFSR D- and Ba3 ratings due to high capitalization and ramified branch network (Ardshininvest has the second biggest branch network in Armenia: 55 branches (13 in Yerevan, 36 in the regions and 6 in Nagorno-Karabakh)).
The bank offers a wide range of universal banking services all over Armenia and Nagorno-Karabakh and is an active creditor of the Armenian economy.
"Considering the last year's economic crisis, the decision of Moody's to preserve our ratings is a good assessment for us. These ratings will help us to attract capital from international markets, deepen our cooperation with old partners in Armenia and abroad and find new external financial sources," says Nerses Karamanukyan, Chairman of the Board of Ardshininvestbank.
The majority shareholders of Ardshininvestbank are the Business Investments Center (86.9%) and the IFC (10%). In 2009 the bank increased its capital by 8.5%, in Jan-June 2010 - by 3.7% to 27.6bln AMD (3rd place in Armenia's banking system). The authorized capital therein made up 56%, the accumulated profit - 31%. In Jan-June 2010 the bank's net profit totalled 1.3bln AMD (4th place).
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