YEREVAN, October 14. /ARKA/. The Acba Bank has considerably improved all key indicators this year continuing to invest with great intensity in all sectors of the economy, the bank’s press service reported.
It said in the first 8 months of 2022, the amount of loans provided by the bank to all branches of the economy grew to over 173 billion 350 million drams, 31% growth compared to the same period last year. Acba Bank also continues to be the absolute leader in terms of financing the agriculture, which is one of the main sectors of Armenia’s economy.
At the same time, the bank has been consistent in the recovery of economic losses caused by the Covid -19 pandemic and the war. In order to “rehabilitate” the economy, Acba Bank has been showing an individual approach to all partners, forgiving loans and providing loan holidays.
From the beginning of 2020 until today, Acba Bank has forgiven some 4,788 loans, totaling more than 2 billion drams. It has also forgiven 4,681 penalties, totaling more than 1 billion 750 million drams, and has deferred another 146,000 loans. The bank has also forgiven 436 loans of the soldiers killed in the war and those who went missing, worth more than 250 million drams.
In addition, Acba Bank, other members of Acba Financial Group, Acba Leasing and Amundi-Acba Asset Management, has donated more than 400 million drams to Hayastan All-Armenian Fund, the Military Insurance Fund and provided funds for offsetting the consequences of the coronavirus pandemic and resolution of social issues resulting from the war.
The bank also actively participated in the state-supported agricultural subsidy program, in the processes of establishing new intensive gardens, the implementation of the advanced greenhouse farms and “green” and industrial agriculture, resource saving projects.
“Our focus is on the process of economic recovery. First, it was Covid, which brought about overall economic passivity and then the war. Many businesses were closed; many others appeared in a difficult financial situation. Borrowers had questions related to repayment of loans. We showed both group and individual approach. We have forgiven loans, supported people by postponing repayments. We must continue to support our army, soldiers and people who joined the process of protecting the Motherland. In this regard, we have forgiven the credit obligations of those who were martyred for the defense of our Motherland,” says Hakob Andreasyan, Chief Executive Officer of Acba Bank.
More details in the video.
The bank is controlled by the Central Bank of Armenia. -0-
