ArmInfo. The banking system of Armenia increased its net profit in the first quarter of 2020 by 40% per annum to 23.3 billion drams ($ 46.3 million), while a year earlier a subsidence of 17.4% was recorded.

ArmInfo.

ArmInfo.As part of the joint program of ACBA-Credit Agricole Bank and NABU (German Conservation and Biodiversity Union), "Darman" tea, produced in the Tavush region, received a certificate of organic production. According to the press  service of the ACBA-Credit Agricole bank, the producer of organic  <Darman> tea Gnel Nazanyan is already exporting his production to the  markets of the Russian Federation, the USA and France.

ArmInfo. The average annual return on assets by type of funds managed by RF Amundi-AKBA Asset Management is at a fairly high level - within 8.7-9.1% (from the  moment of creation).

ArmInfo.  With the exception of a  general approach to help mitigate the socio-economic consequences of  coronavirus, in particular revising loan maturities and government  support measures, ACBA-Credit Agricole Bank discusses other support  programs for the most vulnerable groups of customers, which is the  Bank's internal approach. This was stated by Hakob Andreasyan, CEO of  the Bank.

ArmInfo.By April 1, 2020 the share of non-cash card transactions reached 30% of the total volume of plastic transactions in Armenia.

ArmInfo.

ArmInfo. ACBA-Credit Agricole Bank, working in a special mode, continues the process of lending to SMEs and the agricultural sector, as well as implements programs  aimed at their development. According to the press service of the  Bank, since the beginning of 2020, the Bank has provided loans in the  field of agriculture for 13.9 billion drams, of which 5.2 billion in  March alone. The total loan portfolio of SMEs amounted to 12.4  billion drams, of which 5.4 billion - in March.

ArmInfo.The process of lending to agriculture in Armenia has already begun. The Prime Minister of the Republic of Armenia Nikol Pashinyan announced this live on his  Facebook page.  In this regard, he noted that banks started lending  to farmers.

ArmInfo.

ArmInfo. The spread of coronavirus and falling oil prices adversely affect banks. Russia and neighboring countries and may lead to a decrease in their  ratings, according to a comment by Fitch.

ArmInfo.ACBA-CREDIT AGRICOLE BANK has allocated 25 million AMD for prevention and treatment of a new type of coronavirus in Armenia. Of these, 2 million drams were donated exclusively by Bank employees.

ArmInfo.Fitch Ratings has  affirmed ACBA-Credit Agricole Bank CJSC's (ACBA) and Ardshinbank  CJSC's (Ardshin) Long-Term Foreign- Currency Issuer Default Ratings  (IDRs) at 'B+' with Stable Outlooks.  The banks' IDRs and senior debt  ratings are driven by their intrinsic strength, as captured by their  'b+' Viability Ratings (VRs).

ArmInfo.As of March 16, the Central Bank of Armenia did not make any decisions on suspension of the work of branches of commercial banks of Armenia. This was  reported by the press service of the CBA.

ArmInfo.ACBA-Credit Agricole Bank, based on the situation of the spread of the coronavirus and worrying about its employees and customers, decided not to apply  fines and penalties in case of non-fulfillment of loan obligations by  individuals and legal entities from March 16 to April 30 inclusive  (dates may be revised).

ArmInfo.

ArmInfo.

ArmInfo. In Armenia, the number of plastic cards increased by January 1, 2020 by 18.1% per annum - up to 2.4 million units, against almost similar growth a year  earlier (by 18%). And the total volume of plastic transactions slowed  down the growth from 22.6% in 2018 to 21.3% in 2019, exceeding 2.3  trillion AMD. This is evidenced by the data of the Central Bank of  Armenia.

ArmInfo. Armenia has a stable macroeconomic environment and a favorable investment environment, a good investment climate and high macroeconomic indicators.  President of the Black Sea Trade and Development Bank (BSTDB) Dmitry Pankin  expressed this opinion on February 10 at a press conference in the  Central Bank of Armenia.

ArmInfo. In 2019, the banking system of Armenia increased tax payments to the state  treasury by 7.7% - up to 54.6 billion drams ($ 114 million). Of this  amount, 94.5% or 51.6 billion drams were paid in direct taxes, with a  y-o-y growth of 23.8%.