Ardshininvestbank rated leading bank last year in terms of social payments

03.02.2010 17:40
Ardshininvestbank rated leading bank last year in terms of social payments

YEREVAN, February 3, /ARKA/. Armenian Ardshininvestbank was the leading Armenian commercial bank last year in terms of mandatory social payments, the bank said to ARKA in a press release. It was also rated the second largest bank in terms of paid taxes.

Last year it paid a total of 328 million Drams as mandatory social payments, paying also a total of 2.3 billion Drams in taxes.

Ardshininvestbank was the second in terms of net profits, earning 1. 935 billion Drams and total capital- with 27. 335 billion Drams. In terms of aggregate assets it was the fourth largest Armenian bank and in terms of liabilities-the fifth.

Ardshininvestbank CEO Nerses Karamanukyan was quoted as saying that state-of-the art technologies allow the bank to offer its clients high quality services. The bank has 49 branches across Armenia, 6 in Nagorno-Karabakh and a representation in Paris, France. Moody's international rating agency assigned it a long-term Ba2 and short-term Not Prime local currency deposit ratings, and Ba3 long-term and Not Prime short-term foreign currency deposit ratings.

The outlook on all ratings is stable. According to Moody's, the bank’s D- BFSR - which maps to a Baseline Credit Assessment of Ba3 -- derives from its good franchise as one of Armenia's largest bank. In 2008 the bank as awarded ISO : 2000 international quality management system certificate. ($1- 376.03 Drams). -0-


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