News

Fitch Ratings international rating agency raised the Long-term Issuer Default Rating (IDR) of Armeconombank  by one notch from "B" to "B+" with a stable outlook. . At the same time, the Bank's Viability Rating (VR) was raised from "b" to "b+".

"The upgrade of the Bank’s ratings reflects our view that considerable improvements in operating profitability and capitalisation, which the Bank reported in 2022-2023, have proved sustainable. The Bank’s asset-quality metrics are significantly better than the sector average"-Fitch Ratings reported.