ArmInfo. ACBA-Credit Agricole Bank has concluded a loan agreement with EBRD for $ 17 million to provide financial assistance to small and medium-sized businesses. ArmInfo was told in the press service of the ACBA-Credit Agricole Bank that within the framework of this agreement SME financing will mainly be carried out in drams.
According to the source, of this amount, $ 3 million will be used to finance enterprises established or run by women in the framework of the Women in Business program, and $ 4 million through the ACBA- Leasing leasing company will be used to implement energy-efficient projects.
According to the Financial Rating of the Armenian Banks as of July 1, 2018, prepared by IC ArmInfo, ACBA-Credit Agricole Bank is among the top ten in terms of investments in the SME sector - about 49 billion drams, with an annual growth of 17.7%. In total loans of the banking system to the SME sector, the share of ACBA-Credit Agricole exceeds 7%, and in its own loan portfolio, the share of loans to this sector reaches 22%. To recall, "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, SJSC "Sacam International" (a member of the Credit Agricole S.A group) - 12.44%, "ACBA Federation" CJSC - 71%. ACBA-Credit Agricole Bank is included in the TOP-5 branch network coverage, and holds the 3rd position by the number of regional branches. According to the main balance sheet indicators, the Bank holds positions in TOP-5: the total capital as of July 1, 2018 was 61.7 billion drams (3rd position), assets - 316.2 billion (4th position), loan portfolio - 225.5 billion (4th position), total liabilities - 254.6 billion (4th position). The first half-year of 2018 ACBA-Credit Agricole Bank completed with a net profit of 3.9 bln drams (3 position), having increased it in the annual cut by 44%.
