Friday, August 26 2011 18:31

Moody's rating agency made the ratings of Ardshininvestbank unchanged


ArmInfo. Moody's rating agency made the Ardshininvestbank's Ba2 long-term and Not Prime short-term local currency deposit ratings, Ba3 long-term and Not-prime short-term foreign currency deposit ratings, as well as "D-" financial stability ("BFSR") ratings unchanged.

According to the web-site of Ardshininvestbank, with BFSR criteria of Moody's "D-" scale, Ardshininvestbank was honoured with the Ba3 ratings due to high capitalization level, and as one of the banks having the largest branch network.

Ardshininvestbank offers universal banking services throughout Armenia: also in has branches in Karabakh. The Bank is actively investing in many sectors of the economy.

As the acting Chairman of Ardshininvestbank Karapet Gevorgyan mentioned: "If we take into account the difficult economic situation of the last year, persisting in the ratings of favorite Moody's agency is a good grade for our Bank, at the same time it is a necessary step to a sustainable development. The ratings will give an opportunity to attract funds from international capital markets, as well as more deeply develop our relationship with old and new partners both in Armenia and abroad".

According to ArmInfo's Ranking of Commercial Banks of Armenia, as of June 30 2011 Ardshininvestbank had the 3rd biggest capital in Armenia's banking system - 31.1bln AMD, was the 6th in assets and loans - 128.3bln AMD and 84.4bln AMD, respectively, the 4th in net profit - almost 2bln AMD, in the top ten in ROE and ROA, in the top five in time deposits.

The bank has 55 branches (13 in Yerevan, 36 in Armenia's marzes and 6 in Nagorno-Karabakh) and a representation in Paris.

The majority shareholders of Ardshininvestbank are Business Investment Center - 87.23% and the IFC - 10%.
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