YEREVAN, December 6, /ARKA/. The sector outlook for 2022 for banks in the CIS+ region is neutral, Fitch Ratings said. According to it,  business conditions will remain supportive for lenders in the region (Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Russia, Ukraine and Uzbekistan), due to reduced pressure from the pandemic, healthy economic growth and the banks' reasonable capital buffers, which support continued credit expansion. In 2022, we expect broadly stable trends in banks' asset quality, profitability and solvency metrics.
Fitch believes the region's banking sectors have largely recovered from last year's disruptions, as suggested by healthy solvency metrics and the bounce-back of loan growth and performance ratios to pre-pandemic levels.

The impact of the downturn on asset quality was less severe than we had expected as a result of broadly stable macro environments. Banks' cushions of pre-impairment profit and sizeable capital buffers absorbed an only moderate rise in loan impairment costs. In 2021, Fitch revised most of the Negative Outlooks on bank ratings in the region to Stable. The remaining few Negative Outlooks are concentrated in Belarus (due to the Negative sovereign Outlook) and Armenia (due to residual credit risks from the 2020 downturn).
‘We expect a few selective positive rating actions in 2022, as reflected by Positive Outlooks on nine banks in the region; most of these are support-driven ratings of Ukrainian banks which are linked to/constrained by the Ukrainian sovereign rating, which is currently on Positive Outlook,’ Fitch said.-0-

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On October 12, 2021, S&P Global Ratings assigned its ‘B+’ long-term foreign- and local-currency sovereign credit ratings to Armenia. At the same time, it assigned its ‘B’ short-term foreign- and local currency ratings. The outlook is positive. It also assigned its ‘BB-‘ transfer and convertibility assessment to Armenia

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RAEX-Europe confirmed the sovereign government credit rating (SGC) of Armenia at ‘BB-’ (sufficient level of creditworthiness of the government) in national currency and at ‘BB-’ (sufficient level of creditworthiness of the government) in foreign currency. The rating outlook changed from stable to negative, which means that in the mid-term perspective there is a high probability of downgrading the rating score, RAEX-Europe said in a report

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Armenia’s general government debt is projected to rise from 53.6% at end-2019 to 59.2% of GDP in 2020 before falling back to 56.0% in 2021, upward revisions of 9.4pp and 7.4pp, respectively, since our last review, and well above the current ‘BB’ median of 46.5%, Fitch Ratings said in a report

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Armenian banking sector fundamentals will weaken as a result of the coronavirus shock, captured by the negative banking sector outlook for 2020, Fitch Ratings said in a report after revising the outlook on Armenia’s Long-Term Issuer Default Ratings (IDR) to negative from stable and affirmed the IDRs at ‘BB-‘.

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The economic pressures resulting from the spread of the coronavirus and the lower oil price are credit negative for banks in Russia and neighbouring markets, and could result in negative rating actions, Fitch Ratings says. Fitch has revised banking sector outlooks to negative for seven of the eight markets it covers in the region – Russia, Ukraine, Kazakhstan, Armenia, Azerbaijan, Belarus and Georgia. The banking sector outlook for Uzbekistan remains stable

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Fitch Ratings has affirmed ACBA-Credit Agricole Bank CJSC’s (ACBA) and Ardshinbank CJSC’s (Ardshin) Long-Term Foreign-Currency Issuer Default Ratings (IDRs) at ‘B+’ with Stable Outlooks

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The banking sector is well-capitalised but profitability is low and loan growth remains high, at 15.4% yoy at September-end 2019, boosted by mortgage loan and consumer lending, Fitch said in a report

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Fitch Ratings says key risks have materialized in different CIS banking markets and, in some cases, remain sources of vulnerability

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Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of ACBA-CREDIT AGRICOLE BANK at the level of B + with a stable outlook, the Yerevan-based bank reported

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