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Global Finance names Ameriabank as the Safest Bank in Armenia for 2021 in its 30th annual ranking of the World’s Safest Banks, which honors institutions that stand out for strength and resilience, the bank said in a press release on Tuesday.

“The past year demonstrates the resilience of the banking sector, which stood as a bulwark against collapse during the coronavirus pandemic, supplying critical emergency funding as well as, in many cases, emergency equipment and supplies,” said Joseph Giarraputo, publisher and editorial director of Global Finance. “The safest banks are paragons of stability, and continue to provide necessary support for governments and communities as they seek to recover from pandemic’s economic shocks.”

“We are honored to receive this reputable award amid these challenging times,” Artak Hanesyan, CEO of Ameriabank, commented. “As the largest financial institution in Armenia, we felt utterly responsible during the pandemic, responding very quickly and supporting people, businesses and communities. Our strong capitalization, funding, and liquidity positions, combined with our ability to assess and manage risk during crisis times, helped us to not only withstand but to emerge stronger than before.”

Global Finance’s annual rankings of the World’s Safest Banks has been the recognized and trusted standard of financial counterparty safety for 30 years already. Winners are selected based on a proprietary methodology that incorporates long-term foreign currency debt ratings by Fitch, Moody’s and Standard & Poor’s.

For details on the award and the list of winners, follow the link.