Armenia’s ACBA Credit Agricole Bank received World Finance Banking Awards 2010 as the best banking group in the republic.
2010 is taking shape as the recovery year, with financing for new investments, in infrastructure, the energy sectors – as well as acquisition finance – returning. This has been put down to better dealing of the economic crisis by specific governments and financial institutions.
Banks have used issuance of convertibles and capital increases to reinforce their capital base. This year is seeing the application of stricter rules on provisions.
The crisis had its reverberations on both developed and developing economies of the world; however, not all banks experienced the kinds of losses that even revered financial institutions of the other countries have faced. World Finance conducted in-depth investigations into this year's banking sector. The magazine's researchers found a lot of promise in the emerging banking systems. Congratulations to the winners. The second installment of the awards will feature in the July-August issue, available in newsagents from June.
