Moody’s withdraws Armenian Prometey Bank's B1 and E+ ratings

26.07.2013 13:52
Moody’s withdraws Armenian Prometey Bank's B1 and E+ ratings

YEREVAN, July 26. /ARKA/. Moody's Investors Service has withdrawn Armenian Prometey Bank's B1 long-term local and foreign-currency deposit ratings, not prime short-term local and foreign currency deposit ratings, and E+ standalone bank financial strength rating (BFSR), equivalent to a b1 baseline credit assessment. This information was published on Moody’s official website ( Thursday.

Moody’s said the bank's long-tem deposit ratings had a negative outlook, while the BFSR and short-term deposit ratings had a stable outlook at the time of the ratings withdrawal.

“Moody's has withdrawn the rating for its own business reasons”, says the report.

Bank Prometey Ltd was established in 1990 and registered on October 2, 1991. On October 31, 1996 the Bank got general license №27 from the Central Bank of Armenia. The bank is owned by Prometey City (49.975%), Zakneftegazstroy-Prometey (46.125%). The bank currently has 9 branches across Armenia.

According to the banks’ audited financial statements for 2012, assets were $137.2 million and net profit was $3.7 million. –0--

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