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- Country Name: Armenia
- Assets: AMD 369,090
- Profits: AMD 4,171
- Ownership: 97.52% "Center for Business Investments" LLC,
1.57% Aram Andreasyan,
0.37% Karen Safaryan,
0.27% Rudik Mkrtumyan,
0.0005% "International Business Center" JE CJSC
- Date Modified: Nov-2015
Syndicated Analyses:Moody's Corporation "Moody's downgrades two Armenian banks' ratings; outlooks changed to negative from stable" 19-Jan-2015:
The downgrade of Armenia's government debt rating with a negative outlook has prompted a downgrade of Ardshinbank's supported ratings, which, before the downgrade, benefited from one notch of government (systemic) support uplift. While Moody's considers that the Armenian government will remain willing to assist Ardshinbank in the event of need (because of its systemic importance), the government's capacity to do so has lessened, as expressed by the downgrade of the government debt rating to Ba3 from Ba2.
Given the bank's exposure to the deterioration in Armenia's operating environment, the bank's standalone credit profile is likely to be influenced by the pressures on its asset quality and profitability in the medium term. Thus, all Ardshinbank's ratings carry a negative outlook.
The negative rating outlooks imply that upward pressure on the long-term debt and deposit ratings of Ardshinbank and VTB Bank (Armenia) is unlikely in the next 12 months.Wikileaks Public Library of US Diplomacy "Russian Ambassador Speaks On Russian Investment In Armenia" :
Dryukov claimed that Russian capital was behind nine of Armenia's twenty banks and made up one third of Armenia's total statutory capital. While there is Russian capital behind some of Armenia's non-transparent "pocket" banks, Russian bankers are also behind some of Yerevan's most active full service banks like Converse Bank, ArdShinInvestBank, UniBank (owned by Russian UniAstrumBnak), ArExImBank (owned in part by Russian ImpExBank)and ArmSavingsBank (seventy percent owned by the Russian state- owned VneshtorgBank).