YEREVAN, March 4. /ARKA/. ACBA-Credit Agricole Bank has got an exclusive right to serve American Express plastic cards in Armenia, Stepan Gishyan, executive director general of the bank, said Tuesday at a press conference.

He said that a relevant agreement was signed with American Express international payment system on February 9, 2010.

“We have become the key partner to American Express in Armenia and will serve also American Express cards along with Visa International and Master Card,” he said.
Answering ARKA News Agency’s question, Gishyan said that the bank started serving American Express cards in February, and will start issuing these cards in the second or third quarter.

He also said that the bank has already started serving all those organizations having agreements with American Express.

ACBA Credit Agricole Bank was established in 1995 with the support of TACIS program. Its major shareholders are the French Credit Agricole Group (15.56%), SACAM International (12.44%) and Farmers Mutual Assistance unions of ten provinces, including Armavir (14.08%) and Ararat (12.28%). The bank runs 35 branches.

ACBA Credit Agricole Bank’s assets, totaling AMD 162.8 billion by December 31, 2009, made the bank the largest asset-holder among Armenian banks. Its liabilities amounted to AMD 127.3 billion by late December.

The bank, with its credit portfolio amounted to AMD 90.1 billion, was the biggest lender among Armenian banks in 2009.

Own capital, amounting to AMD 35.4 billion, put ACBA Credit Agricole Bank above other banks in this ranking.  The bank’s authorized capital amounted to 15.7 billion.
ACBA Credit Agricole Bank’s net profit of AMD 4.3 billion brought the bank leadership also on this indicator in 2009.
 
The bank runs 35 branches. ($1= AMD 384.54).-0---