Fitch assigns a ‘В+’ rating to ACBA-CREDIT AGRICOLE BankMay 23, 2018 - 16:21 AMT PanARMENIAN.Net - The prestigious Fitch rating agency has assigned ACBA-CREDIT AGRICOLE Bank a Long-term Issuer Default Rating (IDR) at “B+” with stable outlook. According to the report published by the agency, the assessment was based on the bank’s internal financial viability. When defining the rating, the agency considered the Bank’s absolute leading position in the sphere of agriculture financing, infrastructure facilities including the number of branches in all the provinces of Armenia, as well as its high level of liquidity. Fitch also said in the report that amid the hard macroeconomic conditions in the recent years the bank has concentrated on asset quality improvement, managing to limit the rapid growth of loan portfolio. All this has and will help reduce asset risks and increase profitability. The assessment by Fitch is the highest possible for companies in Armenia, which reaffirms the leading position of ACBA-CREDIT AGRICOLE Bank and its transparent structure. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |