ACBA Credit Agricole Bank accounts for 20.46% of all credits extended to individuals

15.12.2009 13:01
ACBA Credit Agricole Bank accounts for 20.46% of all credits extended to individuals

YEREVAN, December 15, /ARKA/. Armenian ACBA Credit Agricole Bank accounts for 20.46% of all credits extended to individuals and in this sense it is the leading Armenian bank. According to preliminary reports of banks for Q3, 2009 this bank’s credits to individuals rose to 53.4 billion Drams from 48.4 billion Drams from a year before.

About 63% of all its credits and borrowings were given to private sector, while the average index in the banking sector was 38.7%. Overall, by the end of Q3, 2009 Armenian banks allocated to individuals 261 billion Drams credits, down from 288.7 billion Drams from a year before.

According to the bank’s figures, 6.2 billion Drams were allocated to industrial sector, 31.5 billion Drams to agriculture (6 9.2% of all agricultural credits of Armenian banks), 18.8 billion Drams were extended as consumer credits, 16 billion as trade credits , 4.2 billion Drams as transport and communications credits and 3.3 billion Drams as mortgage credits.

ACBA Credit Agricole Bank was established in 1995 with the support of TACIS program. Its major shareholders are the French Credit Agricole Group (28%,) as well as Farmers Mutual Assistance unions which hold from 4% to 14%. In 2009 February ACBA Credit-Agricole Bank joined NASDAQ OMX Armenia stock exchange. The bank runs 35 branches.

At the end of Q3 its overall assets stood at 148.8 billion Drams, liabilities at 119.7 billion Drams, aggregate capital at 29.2 billion Drams and net profit for the first nine months of 2009 at 2.7 billion Drams ($1 – 383.07 Drams). -0-


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