YEREVAN, November 26. /ARKA/. Acba Bank and Proparco, a member of the French Development Agency, reviewed the results of their year-long cooperation. A year ago, Proparco became a shareholder in Acba Bank, acquiring a 10% stake, the bank’s press service reported.
“We are at the beginning of a long story that has already proven successful. This deal strengthens Armenian-French relations. The bank is closely linked to France, which is of systemic importance in the financial market. This partnership brings Armenia’s banking sector closer to European standards. Acba is a bank of innovation, opening up new opportunities for Armenia,” said Olivier Decottignies, Ambassador of France to Armenia.
“The acquisition of 10% of Acba Bank’s shares by Proparco is more than just a financial investment. It is a vote of confidence in Acba Bank’s strategy, management, and its ability to play a significant role in Armenia’s development. Thanks to our partnership with Proparco, Acba Bank is entering a new strategic cycle, and at the core of this long-term vision lies the most important thing: trust. Our goal is to be not only a strong financial institution, but also one of the most reliable organizations in Armenia, a bank that embodies European standards, Armenian values, and a strong sense of responsibility to society,” noted Rafael Sargsyan, Chairman of the Board of Acba Bank.
“Acba has extensive experience working with international organizations. It’s worth noting that this experience has given us not only financial opportunities but also new qualities and standards. Our partnership with Proparco has opened up new horizons for us. I’m proud that we already have a special place in the large Proparco family of partners. I would also like to thank the French government, represented by the Ambassador,” noted Hakob Andreasyan, CEO of Acba Bank.
“Acba is a systemic structure that has become a key player in the development of the Armenian economy. These relationships are based on mutual trust, which will withstand any obstacles and be long-lasting. We will assist the bank in entering the international market and will walk this path together. We want to deepen our cooperation and support the bank in developing its program to combat climate change,” noted Stéphane Froissardey, Deputy Director for Private Equity at Proparco.
‘The Central Bank welcomes the participation of reputable foreign organizations in the activities of the Armenian financial system. By becoming an open joint-stock company and partnering with Proparco, Acba Bank is clearly positioning itself as a bank focused on long-term and sustainable development. Acba Bank stands out among the best banks in a positive sense,” noted Hovhannes Khachatryan, Deputy Chairman of the Central Bank of Armenia.
Acba Bank is overseen by the Central Bank of Armenia.-0-
