The European Bank for Reconstruction and Development (EBRD) is providing a local  currency loan in Armenian dram equivalent to US$ 8 million through a  local currency financing facility to ACBA- Credit Agricole Bank  (ACBA), the press-service of EBRD informs. 

ArmInfo. ACBA-Credit Agricole Bank and  European Fund for Southern and Eastern Europe (EFSE) signed a  USD 10 mln loan Agreement in AMD equivalent, stated the ACBA  press office. 

ArmInfo. The Black Sea Trade and Development Bank (BSTDB) provides a USD 10 million SME Loan to ACBA-CREDIT AGRICOLE BANK. According to the BSTDB, the relevant agreement was signed on December 5

ArmInfo. ACBA-Credit Agricole Bank will hold a free business seminar for representatives of SME sector on December 14-15 in Vanadzor, Lori region The topics of the seminars are: "Management of Money Flows" and "Financial Decision Making", the press- service of the bank informs.

ArmInfo.

ArmInfo. ACBA-Credit Agricole Bank launches ACBA QR new free mobile application   - https://www.acba.am/hy/individuals/distance-banking/acba-qr, which gives an opportunity to read out QR safely and without any advertisement taps.  According to the information shared to ArmInfo at the press-office of the Bank,  within the heplp of this application users will be able to recall previously read references per dates, to use those, to observe bank news and actual tariffs.

ArmInfo. ACBA-CREDIT  AGRICOLE BANK is revising its credit policy, Hakob Andreasyan, CEO of  the Bank, said during a meeting with entrepreneurs at the Lori branch  of the Bank.   

ArmInfo. ARARATBANK has replenished total capital by 8.5 bln drams due to issue of stocks. As a result the authorized capital of the bank has increased to 16.8 bln drams and total capital almost to 33 bln drams.

ArmInfo. ACBA-Credit Agricole Bank, exclusive partner of American Express in Armenia, launches issue of American Express Gold and American Express Blue contactless chip cards, which are more convenient and safe in use. The press-service of the Bank has told ArmInfo that contactless technology allows you to pay simply by tapping your Card against a contactless enabled terminal. If the payment sum does not exceed 10 thousand AMD there is no need to enter the card into terminal, enter PIN- code and sign the bill.

ArmInfo. VTB Bank (Armenia) and Visa company launched regular campaign on non-cash operations promotion- "A winter with VTB". The winners of the contest will get different prizez. As ArmInfo has been informed at the bank's press-office, all the Visa card holders of VTB Bank,as well as clients who will obtain the cards during the contest,  will automatically participate to the campaign.

ArmInfo. Within mandatory accumulative pension system the number of participants of the two pension funds-C-QUADRAT Ampega Asset Management Armenia and Amundi-ACBA- Asset-Management has reached 155 thousand people by November 1, 2016. 65 thousand of them are representatives of state sector and remaining 90 thousand of private sector. The press-service of the Armenia's Central Bank has told ArmInfo that from the moment of creation of these two funds (November 2013) their yield has reached 25.9% (the cost of one common share has grew from 1000 to 1259 drams). For the 10 months of 2016 yield of the pension funds totaled annual average 14.4%.

ArmInfo. New terms of motor third party liability (MTPL) insurance indemnities will come into effect in Armenia in April 2017. Vahan Avetisyan, CEO of the Armenian Motor Insurers' Bureau, presented the upcoming changes in MTPL insurance during a press conference on November 9. He said that in 1-1.5 years the customers will be able to conclude contracts and receive indemnities via up-to-date means of communication without visiting insurance companies.  

ArmInfo. In Jan-Sept 2016 the banking system of Armenia paid 27.9 bln AMD or $58.9 mln in taxes, 12.5% less than in Jan-Sept 2015. The share of direct taxes (including profit tax and income tax) was over 89% or 25.1 bln AMD, 13.1% less than in Jan-Sept 2015.  The share of commercial banks in the total amount of taxes paid by top 1000 taxpayers was 5.3%. The top 1000 taxpayers paid a total of 525 bln AMD ($1.1 bln) in taxes in Jan-Sept 2016.

ArmInfo. Ameriabank under  cooperation agreement with Export Insurance Agency of Armenia will  provide factoring finance to exporters. On October 28 Ameriabank and  Export Insurance Agency of Armenia signed a cooperation agreement,  the press- service of the Bank informs. The aim of the agreement is  to insure Armenian exporters against non-payment on the part of  partners due to trade and political risks. Under the new scheme,  while using factoring services exporters not just get payment for  their goods in advance and are thus able to increase their cash  turnover, but are hedged against possible non-payment on the part of  buyers. Providing factoring finance in the currency of export  contract helps to neutralize possible adverse impacts of exchange  rate fluctuations.  

ArmInfo. VTB Bank (Armenia) is  the 2nd among Armenian banks by amount of paid taxes and 27th among  the largest taxpayers of the country. To note for comparison that in  the same period of previous year the bank held the 3rd position among  commercial banks. The press- service of the bank has told ArmInfo  referring to the data published by State Revenues Committee that for  9 months of 2016 the bank paid more than 2.8 bln drams to the state  budget. 

ArmInfo. ACBA-Credit Agricole Bank has opened its 57th "Shinararner" branch in Ajapnyak (Shnirarner Street 15, 156) district of Yerevan. The press-service of the Bank has told ArmInfo the entire range of the bank's services is available in the new branch.

ArmInfo. VTB Bank (Armenia) and MasterCard international payment system have summed up the results of the joint "Let's Fly to the Maldives" campaign. The press- service of the bank has told ArmInfo that 100 most active holders of Cirrus/Maestro, MasterCard Standard and Gold MasterCard of VTB Bank (Armeni0a), who had made purchases via their cards (online purchases inclusive) amounted to 500.000 drams and more between June 15 and September 15, 2016 participated in the draw of prizes.

ArmInfo. By the end of 2016, the number of the Armenian banking market participants will be 17, i.e. the number will decline by 2 commercial banks. In October 2016, Areximbank-Gazprombank Group announced its withdrawal from the market. Its parental structure – the Russian Gazprombank - preferred to sell its subsidiary to Ardshinbank instead of undertaking capitalization, which was also done out of necessity to cover big losses. The Armenian Development Bank will also shortly be purchased by another quite active market player.  

ArmInfo. Armenian Ministry of  Agriculture is working with commercial banks on introducing factoring  for prompt repayment of debts to farmers, Minister of Agriculture  Ignatiy Arakelyan informed after today's session of government. 

ArmInfo. Acba-Credit Agricole  Bank presented sme.acba.am website to around 200 enterprise  representatives from various spheres of economy. The website is aimed  at becoming a free platform for online business management and  development and being accessible for everyone. It was brought out as  a result of the broad cooperation with the International Finance  Corporation (IFC), member of World Bank group. The sme.acba.am will  be launched in December, the website of the bank informs.