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Evocabank Receives Positive Rating from Fitch Ratings

Yerevan, Armenia - Evocabank has received a positive rating from Fitch Ratings, with an IDR of ‘B’ and a VR of ‘b’. This marks a significant milestone for the bank, which continues to demonstrate strong financial performance.

Financial Performance

As of June 30, 2023, Evocabank’s assets stood at AMD 365.9 billion, representing a growth of 4.3% compared to the same period last year. The bank’s loan portfolio has also expanded, reaching AMD 178.4 billion, with a growth rate of 25.1%.

• Assets: AMD 365.9 billion (as of June 30, 2023)
• Loan Portfolio: AMD 178.4 billion (as of June 30, 2023)
• Equity: AMD 64.5 billion (as of June 30, 2023)

Ratings and Assessment

Fitch Ratings noted that Evocabank’s liquidity position is strong, with a liquidity coverage ratio of 47.4%. The bank’s equity stands at AMD 64.5 billion, with a capital adequacy ratio of 18.7%.

• Liquidity Coverage Ratio: 47.4%
• Capital Adequacy Ratio: 18.7%

New Branch and Expansion

In addition to its positive rating from Fitch Ratings, Evocabank has opened a new branch on Tumanyan street, expanding its presence in the Armenian market.

About Evocabank

Evocabank is one of the leading banks in Armenia, with a strong presence in the country’s financial market. The bank offers a range of banking services to individuals and corporate clients, including loans, deposits, credit cards, and more.

Contact Information

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