11.12.2015 18:01
YEREVAN, December 11. /ARKA/. Fitch Ratings downgraded its outlook for Armenian banks in 2016 to negative.
The rating agency says this negative outlook is driven by the weaker operating environment in Armenia, with an economic slowdown (Fitch forecasts slower 1.5% GDP growth in 2015, down from 3.4% in 2014, before a moderate recovery to 2.5% in 2016), depreciation pressures and higher interest rates.
Decelerating credit growth, weaker asset quality and softer financial performance in 9M15 indicate the effects are being felt by the banking sector.
Views: 0
Categories: Banks @en, General news, News, News of the hour | Comments Off on Fitch: negative outlook for Armenian banks in 2016
Tags:
Read more
