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 | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |