MOODY’S CONFIRMED INTERNATIONAL RATINGS OF ‘ANELIK BANK’ ON DEPOSITS IN NATIONAL AND FOREIGN CURRENCY

ArmInfo
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 ‘â~@~Z 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 a nd territorial
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 Commercial20Banks 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).

–Boundary_(ID_C8DWqEyagidt2cvWjkHCNA) —

From: Emil Lazarian | Ararat NewsPress