YEREVAN, December 12. /ARKA/. Acba Bank presented its experience at the conference “Board of Directors in Armenia: Challenges and Opportunities,” emphasizing the key role of corporate governance in the development of the Armenian economy, the bank’s press service reported.
The conference brought together business leaders, board chairmen, policymakers, and international experts to discuss opportunities for developing a corporate governance culture in Armenia.
Acba Bank launched a large-scale corporate governance reform program back in 2022, improving the quality of management at the bank and strengthening trust among shareholders and investors. This is further evidenced by the fact that in 2024, Proparco, a subsidiary of the French Development Agency, became a 10% shareholder in Acba Bank.
“Acba Bank attaches importance to developing a corporate governance culture in Armenia. We think this should play a key role in economic development and corporate consolidation. It is no secret that companies face the challenge of developing through capital and attracting strategic partners. “Strategic partners can only be attracted through trust. And trust is impossible without corporate governance,” noted Rafael Sargsyan, Chairman of the Board of Directors of Acba Bank.
“Acba Bank has extensive management experience that can be shared with other companies. Our institute is a place where we can share Acba Bank’s experience with others. Acba Bank actively works not only with the Board but also with parallel committees: Acba Bank has a palette of corporate governance processes from which we can also learn,” noted Armenuhi Hovakimyan, Director of the Armenian Institute of Directors.
“The Armenian Institute of Directors is an important structure for familiarizing ourselves with best practices in corporate governance, promoting leadership, and developing the professional capabilities of directors. Corporate governance and leadership are crucial for promoting economic growth, development, and the well-being of society. Society needs true leadership not when problems are simple and solutions are technical, but when thinking, new approaches, and the ability to unite people are needed,” noted Martin Galstyan, Chairman of the Central Bank of Armenia.
The conference was organized by the Armenian Institute of Directors as part of its 10th anniversary.
The bank is controlled by the Central Bank of Armenia.
