Sun, 3 August
24.1 C
Yerevan
USD: 383.84 RUB: 4.70 EUR: 442.91 GEL: 141.90 GBP: 512.96

ACBA-CREDIT AGRICOLE BANK opens new branch in Yerevan

YEREVAN, October 19. /ARKA/. ACBA Credit Agricole Bank said today it has opened another branch in Yerevan on October 18. In a press release the bank said the new branch called Armenia is designed to handle financial flows of individuals and economic entities. The branch is equipped with ultra-modern technology and meets the latest European standards.

“Our goal is that customers in this branch are served as customers are served in Paris, Zurich or New York,” Stepan Gishian, the bank CEO, was quoted as saying.

Central Bank governor Arthur Javadyan said ACBA-Credit Agricole Bank has a 15 years experience and is constantly seeking to expand and has been a leading bank over the last three years. The opening of the branch was attended by senior state officials, businessmen, ambassadors and representatives of international organizations.

ACBA-Credit Agricole Bank was founded in 1996 as part of the EU TACIS program. Among its major shareholders are French Credit Agricole SA (15.56%, SACAM International (12.44%) as well as farmers unions of Armenia, including Armavir region that owns 14.08% and Ararat region that owns 12.28%.

On June 30 its assets totaled 192.7 billion drams, growing by 14.56% from the beginning of the year and accounting for 10.93% of all bank assets in Armenia. The bank loan portfolio grew in the first half of the year by 17.5%, to over 133 billion drams (11.3% of the total loan portfolio of the banking system). Its capital reached more than 42.1 billion drams, having increased in comparison with the beginning of the year by 6.98% (11.95% of the total capital of the banking system). In the first six months of the year it earned over 3 billion drams in profits, almost a 59% rise from a year earlier. ($ 1-375,40 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Investor of the new era: how the capital management culture is changing in Armenia

Interest in investments in Armenia is growing, but it is too early to talk about an established capital management culture.

LATEST NEWS

spot_imgspot_imgspot_img