On 26 October, S&P Global Ratings assigned its 'B+/B' long- and short-term issuer credit ratings to Ardshinbank CJSC with Stable Outlook. The rating is on the level of the Sovereign of Armenia.
The rating action overview given by S&P Global Ratings emphasizes that Ardshinbank CJSC is the largest bank in Armenia with total assets of AMD 1.14 trillion and market share of about 15.7% as of 30 June 2022.
The stable outlook reflects our view that Ardshinbank will utilize the one-off profits of 2022 to build buffers over the next 12-18 months, sufficient to support adequate levels of capital adequacy.
Ardshinbank is the only company from Armenia with assigned ratings from the big three credit rating agencies (Standard & Poor’s, Moody’s and Fitch).
Ardshinbank’s operations are regulated by the Central Bank of Armenia.
