YEREVAN, May 5. / ARKA /. ACBA-CREDIT AGRICOLE BANK expects its loan portfolio in 2015 to make 205 billion drams, the Bank’s Chief Executive Officer Hakob Andreasyan said today.
Speaking at a new branch opening ceremony in Yerevan, he said the Bank’s credit investments in 2014 grew by 6% from the previous year to 179.5 billion drams.
“We expect a gradual indicator growth and increasing loan portfolio, 40% of which will be channelled into agricultural loans, 30% will be lent to small and medium-sized businesses and the rest will be provided as consumer loans,” said Andreasyan.
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. In 2014 the bank’s assets amounted to 286.4 billion drams; its liabilities were worth 237 billion drams and the capital stood at 49.37 billion drams. ($1 – 478.26 drams). -0-
