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Fitch Ratings has affirmed the Long-Term Foreign-Currency Issuer Default Rating (IDR) of Ardshinbank at “B+” with Stable Outlook.

The rating agency has provided its rating rationale and in particular stated that the bank’s ratings are driven by bank’s reasonable financial metrics, supported by cyclical economic upswing and relative currency stability, available capital buffer, comfortable liquidity cushions and solid domestic franchise (market shares by total assets of 13%).

Ardshinbank’s rating matches the one published for the Republic of Armenia, being the highest possible that an Armenian private entity can qualify for.

Ardshinbank is the only private entity in Armenia with assigned ratings from two international major rating agencies (Moody’s and Fitch). For further information about the Bank please visit or call (+37412) 22-22-22

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