AZG Armenian Daily #118, 23/06/2007

Finance and Economy

ARARATBANK GOT INTERNATIONAL RATING

Global Rating Group organization rated "Araratbank", Armenia, with B
grade on June 21. On a press conference in Yerevan head of Global
Rating Group Richard Hanesworth said that rating a bank with B grade
implies that it is stable, predictable and transparent.

Head of the Armenian Central Bank noted that "Araratbank" is capable
of increasing its rating. So as to explain the Armenian bank system to
the foreign investors, Sarkisian said that after 5 foreign banks
entered the Armenian market, 2 more foreign banks expressed such
wishes.

"Araratbank" director executive Ashot Osipian in his turn said that
the bank’s assets have grown three times since October 2006 and the
capital has grown by 150%.

By A. Martirosian

From: Emil Lazarian | Ararat NewsPress