Thursday, June 10 2021 19:53

ArmInfo. S&P Global Ratings revised the outlook on Ameriabank to stable from negative and affirmed 'B+/B' long- and short-term issuer credit rating on the  bank.  B+' long-term rating on Ameriabank is one notch lower than its  stand-alone credit profile (SACP) rated "bb-", due to the sovereign's  creditworthiness constraint, the press service of Ameriabank told  ArmInfo. 

The revision of the outlook on Ameriabank follows some stabilization  of the macroeconomic and banking environment in Armenia in 2021. S&P  expects Armenia's real GDP to expand by 2.5% in 2021 and 4.5% in  2022-2023. 

S&P believes that Ameriabank is well positioned to retain its leading  market positions in Armenia due to recovering macroeconomic  environment and the bank's strong domestic brand, professional  management team, advanced digitalization strategy and adequate  corporate governance.

The stable outlook reflects S&P's expectation that the bank's  sufficient liquidity, prudent risk management, and strong local brand  will enable it to remain resilient to further potential challenges. 

According to S&P estimates, real GDP growth in Armenia will be 2.5%  in 2021, with an acceleration in 2022-2023 to 4.5%.  According to the  Financial Rating of Banks of Armenia as of March 31, 2021, prepared  by ArmInfo IC, Ameriabank is the leader in the Armenian banking  sector in terms of key financial indicators (assets, liabilities,  loan portfolio, capital, profit). Thus, Ameriabank's assets reached $  1.9 billion (with an annual growth of 11%), the volume of loan  investments - $ 1.3 billion (with an annual growth of 13.2%), total  liabilities - $ 1.7 billion (with an annual growth of 11.2%), the  total capital - $ 214.3 million (with an annual growth of 9.2%).  Ameriabank ended the first quarter of 2021 with a net profit of $ 7.5  million (with an annual growth of 33%), taking the 1st position in  this indicator as well. To note,  Ameriabank is a dynamically  developing bank, one of the most stable and large financial  institutions in Armenia.  Ameriabank is a universal bank providing  corporate, investment and retail services within a comprehensive  package of banking solutions. Ameriabank is the only financial  institution in Armenia that has a long- and short-term credit rating  of the issuer from S&P (retained in June 2021 at B + / B level,  "Stable" outlook).