Moody's reaffirms Ameriabank Ba3 rating with Stable OutlookMay 7, 2020 - 17:47 AMT PanARMENIAN.Net - Moody's global rating agency has reaffirmed Ameriabank’s Ba3 long-term local currency bank deposits rating with stable outlook. Ameriabank said they believe that rating affirmation is an important factor amid the situation driven by COVID-19. Moody's decision to affirm the rating reflects a number of important criteria, including well-diversified loan book structure. In particular, as of January 1, 2020, Ameriabank's loans to SME accounted for 17.4% of the Bank's total loans. The Bank's loans to individuals accounted for 25% of the total loan book, and were almost equally split between mortgages and consumer loans. Moody’s long-term local currency bank deposits rating reflects: — Diversified business profile and strong positions on the domestic market; — Improved asset quality indicators and good loss absorption capacity, evidenced by robust capital buffers, good profitability and adequate problem loans coverage; — Sufficient liquidity and diversified funding base. Despite the challenging environment amid the coronavirus outbreak Moody’s expects that the Bank’s funding and liquidity profiles will remain stable. 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 | Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. |