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THE CREDITING RATING 'BB+' OF RATING AGENCY AMRATING / GLOBALRATING TO ARMECONOMBANK
ArmInfo
2008-10-13 17:35:00
ArmInfo. National rating agency AmRating, the member of the rating
agencies group Global Rating (GR) has given the 'BB+' credit rating
to Armeconombank with a prediction 'possible growth'.
As ArmInfo was reported from press-service of GR, such rating is
conditioned by good quality of assets, strong market position,
supporting by the main shareholders, including the institutional
investor in the name of EBRD and soundness to the 'stress'
situations. As the bank analyst of the agency Karina Melikyan said,
here are the factors which control the rating: sensibility to the
political risks and big share in the credit portfolio of the retail
credits, to which big risk is peculiar.
As executive director of AmRating Emmanuil Lazarian said, prediction
of rating is conditioned by reduction of the political risks affect and
expectation of restoration of positions at the market. He also added
that openness of the owning structure is an important circumstance of
high mark of the bank. The fact that the bank joined EBRD shareholders
in 2005 has reduced the dependence risks on the main shareholders
and the influence level of political risks on the bank. The main
shareholders are interested in development of the bank and can show
comprehensive financial support to it. The management quality of the
bank is also positively assessed. Its partnership with EBRD positively
affects quality of the corporative management, sources of funding of
the active operation and its market positions. The main management
procedure are well developed in the bank and are within the frames of
modern standards, which positively reflects stability of the client
and resource base. He also emphasized, that in connection with the
political events, in the middle of 2008 the bank found itself among the
'medium' banks by the size of assets, but it already has a tendency
of correcting the situation and returning to the leading five of the
banking market as soon as possible.
To note, Armeconombank is a private, universal bank with a developed
clientele base and regional network. The bank's activity includes
serving large corporate clients, programs on small and medium-sized
business financing, market of plastic cards, consumer crediting,
including mortgage programs. The bank efficiently operates in the
sphere of international trade financing and banking guarantees. The
bank also has developed relations with foreign financial institutes.
GlobalRating Group unites national rating agencies in the CIS
countries.
There are currently rating agencies in Russia (RusRating), Armenia
(AmRating), Kazakhstan (KzRating) and Azerbaijan (AzeriRating). The
agency focuses on awarding credit ratings to banks and leasing
companies, as well as to their debt instruments. The agency also draws
up analytical reviews on various segments of the financial market.
ArmInfo
2008-10-13 17:35:00
ArmInfo. National rating agency AmRating, the member of the rating
agencies group Global Rating (GR) has given the 'BB+' credit rating
to Armeconombank with a prediction 'possible growth'.
As ArmInfo was reported from press-service of GR, such rating is
conditioned by good quality of assets, strong market position,
supporting by the main shareholders, including the institutional
investor in the name of EBRD and soundness to the 'stress'
situations. As the bank analyst of the agency Karina Melikyan said,
here are the factors which control the rating: sensibility to the
political risks and big share in the credit portfolio of the retail
credits, to which big risk is peculiar.
As executive director of AmRating Emmanuil Lazarian said, prediction
of rating is conditioned by reduction of the political risks affect and
expectation of restoration of positions at the market. He also added
that openness of the owning structure is an important circumstance of
high mark of the bank. The fact that the bank joined EBRD shareholders
in 2005 has reduced the dependence risks on the main shareholders
and the influence level of political risks on the bank. The main
shareholders are interested in development of the bank and can show
comprehensive financial support to it. The management quality of the
bank is also positively assessed. Its partnership with EBRD positively
affects quality of the corporative management, sources of funding of
the active operation and its market positions. The main management
procedure are well developed in the bank and are within the frames of
modern standards, which positively reflects stability of the client
and resource base. He also emphasized, that in connection with the
political events, in the middle of 2008 the bank found itself among the
'medium' banks by the size of assets, but it already has a tendency
of correcting the situation and returning to the leading five of the
banking market as soon as possible.
To note, Armeconombank is a private, universal bank with a developed
clientele base and regional network. The bank's activity includes
serving large corporate clients, programs on small and medium-sized
business financing, market of plastic cards, consumer crediting,
including mortgage programs. The bank efficiently operates in the
sphere of international trade financing and banking guarantees. The
bank also has developed relations with foreign financial institutes.
GlobalRating Group unites national rating agencies in the CIS
countries.
There are currently rating agencies in Russia (RusRating), Armenia
(AmRating), Kazakhstan (KzRating) and Azerbaijan (AzeriRating). The
agency focuses on awarding credit ratings to banks and leasing
companies, as well as to their debt instruments. The agency also draws
up analytical reviews on various segments of the financial market.