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%.
