Moody’s confirmed international ratings of `Anelik Bank’ on deposits in
national and foreign currency at `? 3’/Non Prime level and financial
stability – `D-‘
2008-09-19 19:39:00
ArmInfo. The Moody’s Investors Service International Rating Agency
confirmed the last-year ratings of `Anelik Bank’ on the deposits in
national and foreign currency at `? 3’/Non Prime level, as well as
financial stability – `D-‘. As the press service of "Anelik Bank" told
ArmInfo, the ratings assigned by Moody’s are based on the fundamentally
strong sides of the bank being one of the active players in the
Armenian banking market with a multiyear work experience and an
opportunity of presence in all the segments of corporate and retail
banking business. The assigned rating of financial stability (BFSR)
`D-‘ is supported by the bank’s profitable activity, especially in the
area of money transfers that, in its turn, assures a wider
recognizability of `Anelik’ brand, as well as by a sufficient level of
liquidity, stable dynamic of profitability growth, high quality of the
bank’s assets, etc.
According to the source, `Anelik Bank’ is a universal financial
institute holding the noticeable positions in the Armenian market of
financial services, which is successfully diversified from the
viewpoint of the client base, income sources and territo
rial coverage.
The bank’s branch network numbers 9 branches as of July 1, 2008, 4 of
which are in Yerevan and 5 in Armenia’s regions, moreover, a subsidiary
commercial bank "Anelik Ru" Ltd functions in Moscow. `Anelik Bank’ has
a multiyear experience of cooperation with such authoritative
international organizations as the European Bank for Reconstruction and
Development (EBRD), Commerzbank, the German KfW Bank, the World Bank,
the International Fund of Agriculture Development (IFAD), etc.
As Deputy Chairman of `Anelik Bank”s Board Bagrat Chzmachyan said in
his interview with `Delovoy Express’ newspaper earlier, the rating
plays a quite important role for the bank in conditions of normally
developing market economy when the competition for influence and the
access to resources both inside the country and in the foreign market
is growing. A high position in international and national ratings is a
chance for the bank to attract comparatively cheap resources and to be
demanded in large international deals. In other words, the level of the
rating and the dynamics of its change influence the intensiveness of
business contacts with this bank, Chzmachyan thinks. According to him,
the most important thing is that the rating proves the financial
organization’s transparency and openness, and this is an important
factor in raising the confidence of potential clients.
According to the Ranking of Commercial Banks of Armenia prepared by the
Agency of Rating Marketing Information (ArmInfo), as of July 1, 2008,
the total capital of `Anelik Bank’ was $18.7 mln (14th position
in RA banking system), authorized capital – $17.5 mln (11th position),
assets – $121.6 mln (9th position), total provision of crediting – $66
mln (10th position). By the volume of natural persons’ deposits, the
bank held the 9th position (with $31.1 mln) in the banking sector. At
the end of the first half year 2008 the bank’s profit totalled $575.5
thsd (15th position).