News
03.09.2019
Recently, Moody’s international rating agency has raised Armenia’s sovereign rating from B1 to Ba3.
According to the company’s press release the decision to upgrade the rating has been driven by the diversification of the main directions of the economic growth coupled with the continuity of stabilizing macroeconomic policy.
ARMECONOMBANK OJSC has been rated by Moody's since 2007 and recently as an appraisal of the improvement of banking microsystem and the Bank’s solvency indicators the latter has upgraded the rating of the Bank’s long-term deposits in local and foreign currency from B2 to B1 with stable outlook and set the rating of long-term partner risk Ba3 against the former B1.
According to the the Moody's latest report the Bank’s main advantages are as follows (1) healthy loan portfolio and the low level of problem loans (2) improved profitability (compared to 2018, in the first quarter of 2019 the correlation between net profit and material assets has increased to 1.2% from 0,8 %) (3) capital and liquidity adequate level
You can find the full report by visiting the following link.
Updated: 17/10/2019 12:54