YEREVAN, March 6. / ARKA /. ACBA-CREDIT AGRICOLE BANK has unveiled today new ArCa Credit cards with declining-balance for getting credit lines. The cards validity term is five years. They can be used throughout Armenia to make both encashment and payment transactions, the bank said in a press release.
Unlike standard credit lines, equal amounts, set by the bank are deducted monthly from the credit lines with the declining balance allowing customers to make regular payments and zero their credit commitments.
Customers can get credit lines with the declining-balance in the amount of up to 500,000 drams or an equivalent amount in foreign currency without a document certifying one’s income. The maximum amount of the credit line with the declining balance is 10 million drams or the equivalent in foreign currency.
Visa Electron, Maestro or MasterCard UEFA Champions League, issued by the bank, can be connected to ArCa Credit card account. Thanks to it the bank’s customers will be able to use credit funds also outside Armenia.
ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK.
According to the latest data, the bank’s assets in 2014 grew to 286.4 billion drams; its liabilities grew to 237 billion drams, while its capital fell to 49.37 billion drams. The bank closed 2014 with a loss of 4.6 billion drams against a 4.9 billion dram profit in 2013. ($1 – 479.54 drams). -0-
