Friday, June 23 2017 16:07
Alina Hovhannisyan

Fitch Ratings assigned ACBA-Credit Agricole Bank a "B +" rating with a "Stable"

Fitch Ratings assigned ACBA-Credit Agricole Bank a "B +" rating with a "Stable"

ArmInfo. Fitch Ratings assigned ACBA-Credit Agricole a "B +" rating with a "Long-term Issuer Default Rating" (IDR) rating. In the Fitch report, a solid core of internal financial viability determines assigning this very rating level to the bank.

This is the highest level of the rating, which can be appropriated to organizations/companies functioning in Armenia. In fact, the bank is assigned a rating similar to the country rating, which in world practice is considered a high valuation. And this assessment of Fitch Ratings of ACBA-Credit Agricole's activities confirms the leading position and transparency of this financial structure.

Fitch in the published report also emphasizes that, in the difficult macroeconomic conditions of recent years, the bank has focused on improving the quality of assets, and as a consequence, has limited the rapid growth of the loan portfolio. This in turn has led and in the future will help to reduce the riskiness of assets and increase profitability.

Fitch in the analysis took into account such criteria as the Bank's leading position in the agricultural credit market, high liquidity level, infrastructural saturation, in particular, the maximum coverage by the branch network of all regions of Armenia.

To recall, from Armenian banks, the credit ratings of the agency Fitch have since 2015 also Ameriabank ("B +" forecast "Stable") and Ardshinbank ("B +" forecast "Stable").

According to the Financial Rating of Armenian Banks as of April 1, 2017, prepared by IC ArmInfo, ACBA-Credit Agricole Bank is included in the TOP-5 branch network coverage, and the third position is retained in the number of regional branches. The total capital of the bank at that date was 58.3 bln AMD (3rd position), assets - 308.3 bln (4th position), loan portfolio - 196.3 bln (5th position), total liabilities - 250 bln (4th position). In the first quarter of 2017, ACBA-Credit Agricole Bank completed with a net profit of 1.5 bln AMD (4th position), increasing it by 32% in the annual section. According to efficiency coefficients, the bank was entrenched in TOP-5: ROE -10.5% and ROA - 2%. ACBA-Credit Agricole Bank - a permanent leader in the agricultural credit market - 79.2 billion AMD or about 40% of the loan portfolio of the bank, and in the total agro-loans of the banking system, the share of ACBA-Credit Agricole is 53%.  37.5 billion AMD or about 20% of the bank's loan portfolio were invested in the SME sector.

To note, "ACBA-Credit Agricole Bank" CJSC has been operating in Armenia since 1995. Since September 2006, the largest European banking group Credit Agricole SA has been the majority shareholder of the bank. With a 15.56% interest in the capital, followed by the participation of SJSC Sacam International (a member of the Credit Agricole SA group) in the amount of 12.44%, along with which there are 10 regional Unions of Villagers Mutual Assistance).

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

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СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

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482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

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200 000

0бъем (драм)

96 400 000