The prestigious international rating agency Fitch (Fitch Ratings) raised Acba bank's B+ rating “Long-Term Issuer Default Rating IDR” to "BB-", and the Viability Rating (VR) from "b+" to "bb-".

Fitch emphasized that Acba bank's rating upgrade is due to sustained, significant improvements in the bank's profitability and capitalization during 2022-2023. According to Fitch, this is mainly caused by the rapid economic growth in Armenia.

The report published by Fitch also mentions the improvement in the quality of the bank's credit portfolio as well as the level of solvency.

According to Fitch's forecast, the profitability of Acba bank will increase due to the favorable operating environment.

During 2023, Acba bank recorded significant results:

• Generating 28.6 billion AMD profit, the company also achieved remarkably high levels of profitability for both its assets at 3.9%, and its capital at 23.6%.

• 18.6% growth of the deposit portfolio,

• an increase in the number of cards, with around 35,300 cards, occupying the first position in the market,

• About 44% increase in the volume of transactions made with POS-terminals compared to the previous period.

• paid a dividend to its shareholders in the amount of AMD 4.4 billion.
  
  

In addition, the bank's assets increased by 17.8% and the capital increased by 21.8%.