Moody`s upgrades Ardshinbank`s ratings, reflecting high performance and improved capital adequacy

ArmInfo. Moody's, the global credit rating agency, has upgraded the Ardshinbank's Baseline Credit Assessment (BCA) to ba3 from b1 and affirmed its long-term deposit ratings at Ba3. Additionally, the outlook on the Ba3 long-term deposit has been changed from negative to stable.

The upgrade to ba3 from b1 is attributed to the bank's asset quality resilience throughout the pandemic and significant improvements in capital adequacy and profitability over the past two years.

According to Moody's rating assessment, Ardshinbank's stable performance is underscored by its exceptional profitability, expanding customer base, and remarkable financial achievements. Notably, the bank's capital position has experienced a significant strengthening over the past years. These rating upgrades by Moody's serve as a testament to Ardshinbank's robust financial standing and prudent risk management practices.

Ardshinbank is the only company in Armenia with assigned ratings from the big three credit rating agencies (Moody’s, Standard & Poor’s, Fitch). The bank’s ratings are on the level of sovereign of Armenia.