Thursday, June 28 2018 16:28

ArmInfo. ACBA-Credit Agricole Bank was recognized by the European Bank for Reconstruction and Development (EBRD) as the most active issuing bank in Armenia in 2017 under the Trade Facilitation Program (TFP) for the results of 2017.  As the press service of the ACBA-Credit Agricole Bank told ArmInfo,  this award was awarded based on the results of activities in this  area, namely, the volume of trade finance operations conducted in  2017.

"The Bank regularly increases the volumes of services provided to  SMEs, while expanding the range of products offered, making them more  flexible in line with current trends." We constantly implement  various digital solutions aimed at speeding up the process of  providing services. "ACBA-Credit Agricole Bank is one of the leading  banks of Armenia on trade financing, and the EBRD award is a clear  testimony to this.  We highly value our cooperation with Eurobank, as  a result of which ACBA-Credit Agricole Bank is even more has  broadened the geography of its business activities," said ACBA-Credit  Agricole Chief Executive Officer Hakob Andreasyan.

Executive Director of EBRD for Financial Organizations, Nick  Tesciman, said: "Trade finance is an important tool for promoting  development and growth of the economy." Our partner banks, through  the provided financial resources, help local companies to conquer new  markets. "The EBRD award of ACBA- Credit Agricole is an expression of  respect and a high evaluation of the activities of the partner bank  for this program."

Trade Facilitation Program (TFP) of the European Bank for  Reconstruction and Development has been implemented since 1999. The  goal of the program is to assist EBRD partner countries in  international trade.  As part of this program, Eurobank issues  guarantees to international confirming banks and thereby assumes  political and commercial payment risks for transactions concluded by  participating banks in the countries of EBRD operations. In addition,  the Eurobank under this program provides short-term loans to selected  banks and factoring companies to finance local export,  import-oriented and distribution companies. In 2017, participating  banks, with the assistance of the EBRD, financed 1.9 billion euros in  25 countries.

According to the Financial Rating of the Armenian Banks as of January  1, 2018, prepared by IC ArmInfo, ACBA-Credit Agricole Bank maintains  its position on TOP-5, the top five in terms of coverage of the  branch network, and holds the third position in terms of the number  of regional branches. The total capital of the bank at that date was  60.2 billion drams (3rd position), assets - 311 billion (4th  position), loan portfolio - 209.3 billion (4th position), total  liabilities - 250.8 billion (4th position). In 2017, ACBA-Credit  Agricole Bank completed with a net profit of 5.6 billion drams (4th  position), increasing it 3 times in annual terms. ACBA-Credit  Agricole Bank - a permanent leader in the agricultural credit market  - 76 billion drams or over 33% of the loan portfolio of the bank, and  in the total agrocredits of the banking system, the share of  ACBA-Credit Agricole is about 48%. 46.5 bln AMD or over 22% of the  bank's loan portfolio were invested in the SME sector. 

"ACBA-Credit Agricole Bank" CJSC has been operating in Armenia since  1995. The majority shareholders of the bank are: the largest European  banking group Credit Agricole S.A. with a 15.56% interest in the  capital, after which SJSC "Sacam International" (a member of Credit  Agricole S.A) - 12.44% followed by the size of participation, "ACBA  Federation" CJSC - 71%.