Mon, 30 June
26.1 C
Yerevan
USD: 384.32 RUB: 4.89 EUR: 450.23 GEL: 141.11 GBP: 527.56

ACBA- CREDIT AGRICOLE BANK to carry on with planned development strategy, new CEO

YEREVAN, May 8. / ARKA /. The new leadership of ACBA- CREDIT AGRICOLE BANK will carry on with the planned development strategy, the new CEO of the bank, Hakob Andreasyan, told a news conference today.

Mr. Andreasyan was appointed CEO of the bank unanimously on April 23 by its shareholders. He has replaced Stepan Gishyan, who died on March 22 at age 49.

Mr. Andreasyan said the development strategy provides for expanding the bank’s representation across the country. In this regard, he recalled that on Monday the bank opened its 49th branch in Yerevan.

He said also the main financial indicators have recorded growth this year. In particular, the loan portfolio has grown from 163 billion drams in the beginning of the year to 176 billion drams.

On future plans, Mr. Andreasyan said that the bank’s development strategy calls for stepped up lending to the agricultural sector, increasing consumer and mortgage lending, especially in providing mortgage loans to young families, as well as a more active work with small and medium-sized businesses .

“Our main emphasis will be on lending and providing banking products to young families, because we believe that this is the target group of clients with whom we can work for a long time,” he said.

On April 1 the bank’s assets stood at 264.6 billion drams ($ 640.2 million), its credit investments were worth 178 billion drams ($430.6 million), the equity capital stood at 53 billion drams ($128.2 million) and deposits totaled 109.6 billion drams ($ 265.1 million). The bank boasts 276,000 customers. -0-

spot_img

POPULAR

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

Central Bank of Armenia considering introducing long-term mechanisms for insurance against fraud

The Central Bank of Armenia is considering the possibility of introducing mechanisms for insurance against fraud.

Armenian banks  in 2024 increased profit by 61% to 363 billion drams – UBA

Armenia-based banks made a profit of 363 billion drams in 2024, an increase of about 137 billion drams, or 61%, compared to 2023,  Daniel Azatyan, the head of the Union of Banks of Armenia (UBA) told a press conference today.

Central Bank invalidated banking license of Ardshininvestbank due to its merger with Ardshinbank

The Board of the Central Bank of Armenia has revoked the banking license of Ardshininvestbank CJSC (formerly HSBC Bank Armenia CJSC) following its merger with Ardshinbank CJSC.

ACBA Bank summarizes the results of 2024 (video)

ACBA Bank summarized the results of 2024 and defined the future directions of the bank's development at the annual general meeting of shareholders, ACBA said in a press release today.

LATEST NEWS

spot_imgspot_imgspot_img