Yerevan, September 18 /Mediamax/. AmRating Agency raised the credit rating of “ARARATBANK” from “B-” (B minus) to “B+” (B plus) with a stable outlook.

As Mediamax was told in the press service of “ARARATBANK”, the increase of the rating is conditioned by the growth of the bank’s assets with the preservation of a high level of capitalization, the development of the retail business, the improvement of the diversification level of the credit portfolio and the commitments, the preservation of a positive assessment in the corporate management of the bank.

Chairman of the Board of “ARARATBANK” Ashot Osipian stated that the rating increase “will attach additional confidence not only to our customers, but also to all the partners of the bank, the structures and the people that in this or that way cooperate with us”. According to Osipian, the new rating evidences the improvement of the bank’s financial indices, the successful implementation of banking technologies and the introduction of new services.