ACBA-CREDIT AGRICOLE BANKs new branch to focus on financing and serving SME entities

ACBA-CREDIT AGRICOLE BANKs new branch "Sayat-Nova" will focus on serving the small and 

medium enterprises, Hakob Andreasyan, Chief Executive Officer of the Bank, said during the opening of the "Sayat-Nova" branch in Yerevan on May 5.   

 

"The opening of this branch pays tribute to the memory of Stepan Gishyan, the deceased director and founder of ACBA-CREDIT AGRICOLE BANK, who was born on May 5. It has become a tradition for us to open the new branches on that day. If you remember, last year the "Yeritasardakan" branch was also officially opened on May 5," he said.    

 

He added that the given branch will focus on serving SME representatives. "Certainly, SMEs are served in other branches as well, but here the team will be specialized in SME segment. The new 

branch's staff has young specialists, who have all the necessary qualifications to work with this category of customers," said Andreasyan. 

 

For his part, Suren Zakaryan, the head of the "Sayat-Nova" branch of ACBA-Credit Agricole Bank, said that the branch will provide the entire package of banking services, as well as SME- oriented products. "The packages developed for SMEs envisage various tariffs and rates depending on the specificity and activities of the entities. In addition, the branch will provide business consulting on strategic development programs, participation in loan projects and use of other banking products," he said. 

 

On May 5, ACBA-CREDIT AGRICOLE BANK opened the new "Sayat Nova" branch in Yerevan. The new branch inclusive, the number of the Bank's branches in Yerevan is 14. The Bank is ranked the second in terms of branch network in Armenia. As of May 5, the total number of ACBA-CREDIT AGRICOLE BANK's branches is 55, including 14 in Yerevan and 41 in all provinces of Armenia. 

 

According to the Financial Rating of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), in Q1 2015 ACBA-CREDIT AGRICOLE BANK held the fifth position in the Armenian banking system in terms of SME lending, which totaled 48.5 bln AMD or 25% the Bank's loan book by 1 April 2015. The Bank held the fourth position in in terms of net profit (784 mln AMD) and it was also the fourth in terms of lending (interbank loans inclusive), which totaled 198.2 bln AMD. In the loan book of ACBA-CREDIT AGRICOLE BANK, lending to economy sectors exceeded 34% or 67.7 bln AMD. The Bank held the sixth position in terms of assets - 278.7 bln AMD. The Bank was also the sixth in terms of general obligations - 228.6 bln AMD. In Q1 2015, the Bank was in the lead in terms of total capital (49.9 bln AMD). 

 

"ACBA-CREDIT AGRICOLE BANK" CJSC has been operating in Armenia since 1995. Since September 2006, the majority shareholders of the Bank have been Credit Agricole S.A. (15.56%) and SJSC "Sacam 

International" (part of Credit Agricole S.A  - 12.44%). Along with them, 10 agricultural cooperative unions hold shares in the capital of ACBA- CREDIT AGRICOLE BANK.