Thursday, May 19 2016 14:55
Karine Melikyan

ACBA-Credit Agricole Bank and NABU: Names of four winners of "Certification of Organic Agricultural Product" contest are known

ACBA-Credit Agricole Bank and NABU: Names of four winners of  "Certification of Organic Agricultural Product" contest are known

ArmInfo. Names of four winners of "Certification of Organic Agricultural Product" contest are known. ACBA-Credit Agricole Bank and Nature and Biodiversity Conservation Union (NABU) held the contest. As the press-service of the bank informed ArmInfo, "Mer Sarer" LLC (production of honey), "Mega Ararat" company (gathering of mountainous fruits and plants, production of tea), "Armberry" (raising of raspberry) and private entrepreneur Vahagn Hakobyan (raising of blackberry) are the winners.


"Currently the winners of the contest are undergoing accreditation and one of them will receive it in the nearest future. After this the possibilities of export of the ready products to European market will significantly grow. The accreditation of the other winners will be finished till the end of the year", Head of Armenian office of NABU Narek Grigoryan informed.

"Development of small and medium farmer enterprises in rural areas is one of the priority issues of ACBA- Credit Agricole Bank's policy of corporate social responsibility. The program in fact covers a while cycle up to assistance to export, as a result of it new job places will be opened and the involved enterprises will get serious prospects for development. As a result we create a precedent assisting development of SME companies, specializing on production of organic food products, in rural communities of Armenia. This program will be continuous", Narek Asatryan, the PR responsible of ACBA-Credit Agricole Bank informed.

To note, founded in 1899, Nature and Biodiversity Conservation Union (NABU, Berlin, Germany) encompasses more than 520,000 members and sponsors, who commit themselves to the conservation of threatened habitats, flora and fauna, to climate protection and energy policy. NABU`s main objectives are the preservation of habitats and biodiversity, the promotion of sustainability in agriculture, forest management and water supply and distribution, as well as to enhance the significance of nature conservation in our society.

According to ArmInfo's Financial Rating of the Armenian Banks, SME accounts for nearly 20% of the Bank's loan portfolio or nearly 75mln drams. ACBA-Credit Agricole Bank's SME finance portfolio accounts for almost 6% of the total SME finance in the banking system of Armenia. Agricultural loans portfolio reached 164.5 bln AMD as of January 1, 2016 (more than 340 mln USD) with 18.3% year-over-year growth (versus 22.6% growth in 2014). ACBA- Credit Agricole Bank accounts for more than 50% of the total agricultural finance by the banking system of Armenia as of January 1, 2016. As this bank is mainly specialized in agricultural crediting, the share of these loans in its credit portfolio reaches almost 40%. "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. By the coverage of the branch network and the number of regional branches, the Bank holds the second position. According to the key balance sheet figures, ACBA-Credit Agricole Bank is in the TOP-5.

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