Moody's Reaffirms Ameriabank Ba3Rating with Stable Outlook
07-05-2020 17:40:23 | Armenia |
Moody's global rating agency has reaffirmed Ameriabank’s Ba3 long-term local currency bank deposits rating with stable outlook. Ameriabank believes that rating affirmation is an important factoramid the situation driven by COVID-19.
Moody's decision to affirm the rating reflects a number of important criteria, including well-diversified loan book structure. In particular, as of January 1, 2020, Ameriabank's loans to SME accounted for 17.4% of the Bank's total loans. The Bank's loans to individuals accounted for 25% of the total loan book, and were almost equally split between mortgages and consumer loans.
Moody’s long-term local currency bank deposits rating reflects:
Diversified business profile and strong positions on thedomestic market
Improved asset quality indicators and good loss absorption capacity, evidenced by robust capital buffers, good profitability and adequate problem loans coverage
Sufficient liquidity and diversified funding base
Despite the challenging environment amid the coronavirus outbreakMoody’s expects that the Bank’s funding and liquidity profiles will remain stable.
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