S&P upgrades Ameriabank to 'BB-', Outlook StableAugust 31, 2023 - 10:18 AMT PanARMENIAN.Net - S&P Global Ratings raised its long-term issuer credit rating on Ameriabank CJSC to 'BB-', outlook stable. The upgrade follows a similar action on Armenia. The ratings on Ameriabank are no longer constrained by the sovereign's creditworthiness and are now commensurate with its standalone credit profile of 'bb-'. In S&P’s view, Ameriabank is well positioned to retain its leading market position in Armenia (it is the largest domestic lending institution with a market share of about 19% of loans at June 30, 2023), leveraging on its digital channels and diversifying further into the retail and small and midsize enterprise segments. S&P also expects Ameriabank to retain adequate capital adequacy in upcoming years, supported by strong internal capital generation. The stable outlook reflects S&P’s view that over the next 12-18 months Ameriabank will maintain its leading positions in the Armenian banking sector and manage its expected strong lending growth while maintaining stable capital buffers. Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy, with assets exceeding AMD 1 trillion. In the course of digital transformation, it has launched a number of innovative solutions and platforms going beyond banking-only needs of its diverse customer base, thus creating a dynamically evolving financial technology space. Ameria was the first in Armenia to create ecosystems for both businesses and individuals, which give one-window access to a range of banking and non-banking services, among them - Estate.ameriabank.am, Automarket.ameriabank.am, Business.ameriabank.am. As a truly customer-centric company, Ameria aims to be a trusted and secure financial technology space with seamless solutions to improve the quality of life. Ameriabank is supervised by the Central Bank of RA. 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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. 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. |