ACBA-Credit Agricole Bank’s assets rise to more than 200 billion drams

14.09.2011 20:44
ACBA-Credit Agricole Bank’s assets rise to more than 200 billion drams
YEREVAN, September 14. / ARKA /. Stepan Gishian, the chief executive officer of ACBA-Credit Agricole Bank, said today the bank’s assets in the first half of the year rose to more than 200 billion drams. Speaking at a news conference he said the bank was leader in terms of assets s size.
‘In the first half our bank performed fairly well seeing growth and maintaining its leading positions in terms of nearly all major indicators like assets size, statutory and common equity, loan portfolio, earnings, number of ATMs and POS-terminals", said Gishian.
According to him, third quarter trends show that full-year performance is going to be even better. He said also the bank's profit in the six months amounted to nearly 3 billion drams, twice as much as its total profits for the full year of 2010.
"These numbers show that we are exiting the crisis, which, however, has not ended yet," said Gishian.
ACBA-Credit Agricole Bank was established in 1996. In 2006 French banking group Credit Agricole acquired a 15.56% stake in it. According to ARKA data, as of June 30, 2011 its aggregate assets totalled 192.7 billion drams, the largest indicator in the sector, its liabilities stood at 150.6 billion drams, its total capital was 42 1 billion drams, the authorized capital was 31.2 billion drams, the outstanding loan portfolio was about 128 billion drams and liabilities to clients amounted to 57.4 billion drams. Except for the last indicator, the bank was the leader in the sector. Its net profit for first half of 2011 amounted to more than 3 billion drams. ($ 1 = AMD 372.87). -0-


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