Wed, 30 April
11.1 C
Yerevan
USD: 389.45 RUB: 4.78 EUR: 443.12 GEL: 141.62 GBP: 521.16
spot_img

ACBA Credit Agricole Bank accounts for 20.46% of all credits extended to individuals

YEREVAN, December 15, /ARKA/. Armenian ACBA Credit Agricole Bank accounts for 20.46% of all credits extended to individuals and in this sense it is the leading Armenian bank. According to preliminary reports of banks for Q3, 2009 this bank’s credits to individuals rose to 53.4 billion Drams from 48.4 billion Drams from a year before.

About 63% of all its credits and borrowings were given to private sector, while the average index in the banking sector was 38.7%. Overall, by the end of Q3, 2009 Armenian banks allocated to individuals 261 billion Drams credits, down from 288.7 billion Drams from a year before.

According to the bank’s figures, 6.2 billion Drams were allocated to industrial sector, 31.5 billion Drams to agriculture (6 9.2% of all agricultural credits of Armenian banks), 18.8 billion Drams were extended as consumer credits, 16 billion as trade credits , 4.2 billion Drams as transport and communications credits and 3.3 billion Drams as mortgage credits.

ACBA Credit Agricole Bank was established in 1995 with the support of TACIS program. Its major shareholders are the French Credit Agricole Group (28%,) as well as Farmers Mutual Assistance unions which hold from 4% to 14%. In 2009 February ACBA Credit-Agricole Bank joined NASDAQ OMX Armenia stock exchange. The bank runs 35 branches.

At the end of Q3 its overall assets stood at 148.8 billion Drams, liabilities at 119.7 billion Drams, aggregate capital at 29.2 billion Drams and net profit for the first nine months of 2009 at 2.7 billion Drams ($1 – 383.07 Drams). -0-

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

Armenia ratifies EUR 10.1 million investment agreement with EIB on Yerevan’s Second Energy Efficiency Program

The Armenian Parliamentary Committee on Financial, Credit and Budgetary Affairs gave a positive conclusion at its meeting on Friday on the ratification of the agreement on the investment grant for the "Second Yerevan Energy Efficiency Program" in the amount of EUR 10.1 million.

LATEST NEWS

spot_imgspot_imgspot_img