YEREVAN, June 18. /ARKA/. 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.
In 2024, the bank made significant progress in the field of corporate governance, increasing the confidence of shareholders and investors. In this regard, the fact that Proparco, a subsidiary of the French Development Agency Group, became a shareholder of ACBA Bank is of particular importance, which testifies to the high confidence of the latter in ACBA. Proparco acquired 10% of ACBA Bank’s shares in 2024.
The year 2024 was also a year of unprecedented development of partnerships with international organizations. ACBA signed record-breaking loan agreements and risk-sharing transactions with
• European Investment Bank (EIB)
• US International Development Finance Corporation (DFC)
• Japan International Cooperation Agency (JICA)
• International Finance Corporation (IFC)
• European Bank for Reconstruction and Development (EBRD).
In addition, in 2024, ACBA Bank and American Express also announced the expansion of their long-standing partnership.
“The General Meeting of Shareholders is the tool through which shareholders get the opportunity to participate in the management of the bank. It is also a good opportunity to communicate with each other and better understand each other. ACBA continues its mission to build a strong corporate governance company. We are creating a transparent and accountable system where the powers of the bank’s shareholders, board and management are well balanced, and the beneficiaries of all this are not only the shareholders, but also other stakeholders of the bank, including the bank’s customers, bank employees, the Central Bank of the Republic of Armenia, the bank’s partners and the wider society. Our task is to understand their interests well and take care of them,” noted Rafael Sargsyan, ACBA Bank Board Chairman.
“We enjoy the trust of international partners and are strong in the experience that we are able to accumulate during cooperation with them. I believe that by this we are sending a clear message that the bank is transparent and predictable, and the acquisition of the bank’s shares is a very successful and profitable investment in the long term,” noted Hakob Andreasyan, CEO of ACBA Bank.
“ACBA has been recording stable growth year after year in terms of core business, profit, number of clients and development of digital technologies. If we average, we have doubled our business in 4-5 years, which means that the growth is 15-20% per year,” noted Styopa Zakinyan, CFO of ACBA Bank.
2024. Key financial results.
• Net profit – 28.8 billion AMD,
• Asset growth – 18.9%, reaching 931.7 billion AMD
• Capital growth – 22.8%, reaching 163.4 billion AMD
• Loan portfolio growth – 16.8%, reaching 629.3 billion AMD
• Growth in deposits and issued bonds – 18.9%, reaching 623.5 billion AMD
• Market leader in the number of POS terminals, ATMs and issued cards
• The number of acba digital users increased by 37.9%, reaching about 530,000.
Innovation, internal efficiency and sustainable development are at the core of ACBA Bank’s 2025 strategy.
It is planned to significantly develop the capabilities of digital platforms by introducing new services and analytical tools. Akba looks to the future with confidence, continuing to strengthen its position in the financial market, creating long-term value for its shareholders and society as a whole.
The bank is supervised by the Central Bank of Armenia.-0-
