Tuesday, June 28 2011 12:55
Moody's confirms Unibank's international ratings
ArmInfo. Moody's Investors Service has confirmed a bank financial strength rating (BFSR) of E+ to Armenia's Unibank CJSC, as well as Ba3 long-term and Not-Prime short- term global local currency deposit ratings and Ba3 long-term and Not-Prime short-term foreign currency deposit ratings. The outlook on all ratings is stable.
According to Moody's, the bank's dominant presence in the money transfer business affords it good access to primary deposits and offers cross-selling opportunities. The first international rating was assigned to Unibank in July 2010.
Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information ArmInfo says Unibank's liabilities totaled 96 bln drams as of April 1 2011 (up 5% per annum). The share of call liabilities was 14.3% or 13.7 bln drams (up 10% for Q1 2011), including 76% were accounts of corporate customers (up19.5% for Q1 2011). In fact, Unibank proved among top thee banks in terms of financial assets stability ratio - 19.8%.
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