Wednesday, November 25 2020 11:08

ArmInfo. In the annual rating of the most reliable banks in the world by the well-known American magazine Global Finance, for the fourth year in a row, Ardshinbank is  recognized as the most reliable bank in Armenia.

The title "Most Reliable Bank of the Year" is awarded based on such  important indicators of the bank's performance as the results of the  analysis of ratings of long-term liabilities in foreign currency,  assigned by international rating agencies Moody's, Standard & Poor's  and Fitch, as well as on the basis of an analysis of the total assets  of thousands of largest banks from 112 countries of the world.

During 2020, the world suffered from the COVID-19 pandemic and a  sharp decline in economic activity, according to the magazine's  publisher and editor-in-chief Joseph Jarraputo, which significantly  affected the creditworthiness of banks. The ratings provided by  Global Finance will be used by companies, investors and individuals  primarily to assess the relative safety of the banks with which they  choose to do business.  "We highly appreciate the recognition of our  merits at the international level. During the global crisis, when due  to the pandemic we all found ourselves in a new reality, Ardshinbank  will continue to follow the path of reliability, quality of service  and successful financial results," the Chairman of the Board  commented on the event Ardshinbank Artak Ananyan.

It should be reminded that earlier the Global Finance magazine named  Ardshinbank "The Best Bank in Armenia in 2020". Ardshinbank was the  best bank in 2020 recognized by the authoritative magazine of British  institutional investors Euromoney, and The Banker magazine of the  Financial Times has recognized the issue of Ardshinbank's Eurobonds  as "Deal of the Year" in Europe in 2020.

According to the Financial Rating of Banks of Armenia as of September  30, 2020, prepared by ArmInfo IC, Ardshinbank is the leader in terms  of the volume of credit investments and the amount of net profit, and  is in the TOP-3 in terms of other key balance indicators. Thus, the  volume of credit investments of Ardshinbank amounted to $ 1.4 billion  (with an annual growth of 53%), and the net profit for the first 9  months amounted to $ 21.5 million (with an annual growth of 60.5%).  The bank's assets amounted to $ 1.8 billion (with an annual growth of  31%), total liabilities exceeded $ 1.6 billion (with an annual growth  of 33%). In retail lending, Ardshinbank is the leader with a volume  of $ 458 million (with an annual growth of 28%), and in corporate  lending it is in the TOP-3 with a volume of $ 891 million (with an  annual growth of 63.4%). In the structure of liabilities, the bank  occupies the 2nd position in term deposits ($ 537.2 million), and the  leadership with a volume of $ 237.7 million is retained in term  deposits of legal entities, while on term deposits of individuals it  is the 4th position with a volume of $ 299.5 million. Ardshinbank is  in the lead also in terms of funds attracted from international  financial institutions within the framework of credit programs - $  548.1 million.Ardshinbank is also in the top five in terms of  investments in securities - $ 131.2 million, and in terms of funds  raised from the placement of its bonds, it takes the lead ($ 334.1  million, with an annual growth of 6 ,4 times). Ardshinbank has been  operating in the Armenian market since 2003, with a branch network of  63 subdivisions (2nd position in the market), most of which (43  branches - 2nd position in the market) are located in the regions of  Armenia.