Fitch rates Armenia's ACBA-Credit Agricole Bank ‘B+’; Outlook StableJune 23, 2017 - 15:36 AMT PanARMENIAN.Net - Fitch Ratings has assigned Armenia’s ACBA-Credit Agricole Bank CJSC ratings of Long-term Issuer Default (IDR) ‘B+’ with Stable Outlook. According to the report, the bank received such an assessment due to its internal financial viability. The assessment took into account the fact that ACBA is engaged in financing of the agricultural sector, as well as infrastructure saturation, including the presence of branches in all the provinces of the country, and a high level of liquidity. The Fitch report also notes that in a complex macroeconomic environment, the bank has in recent years focused on improving the quality of assets, as a result of which it has managed to limit the rapid growth of its loan portfolio. All this, in turn, helped and will in the future stimulate a decrease in the riskiness of assets and growth in profitability. The assessment received from Fitch is the highest for companies in Armenia. It confirms the transparent financial structure and the leading position of ACBA-Credit Agricole Bank. 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 | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |