Fitch Ratings Reaffirms Ardshinbank at ‘B+’ with Stable Outlook


A top rating agency Fitch has reaffirmed the Long-Term Foreign-Currency Issuer Default Rating (IDR) of Ardshinbank at “B+” with Stable Outlook.

According to Fitch Ratings, the rating is driven by bank’s stable asset quality, supported by a cyclical upswing of the economy, reasonable capital and liquidity buffers, as well as moderate profitability.

To remind, Ardshinbank has assigned ratings from two international major rating agencies (Fitch and Moody’s) equal to the rating of sovereign, which is the best rating indicator for any private company.


Ardshinbank is one of the leaders in all key financial indicators of the RA banking system. It is the only private entity in Armenia that has issued euro bonds in international capital markets. The Banker, a publication owned by the Financial Times Group, named Ardshinbank as “Bank of the Year in Armenia for 2018’’.

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