YEREVAN, April 23. / ARKA /. ACBA Leasing, an affiliate of ACBA-CREDIT AGRICOLE BANK, earned 1.7 billion drams in accumulated profit last year, ACBA-CREDIT AGRICOLE BANK’s chief executive officer, Stepan Gishyan, said today.

"Since its inception ten years ago the company has embraced virtually all sectors of Armenia’s economy providing them with a large variety of equipment contributing that way to the development of these industries,"  he said at a press conference convened on the occasion of the 10th anniversary of ACBA Leasing.

According to Gishyan, over ten years the assets of the company have increased a hundred fold to 11 billion drams, the capital has surged by three times to 2.8 billion drams and the number of contracts to about 600. Its loan portfolio stands now at 9 billion drams, he said.

"To date, the company has leased about 14,000 vehicles and various types of machinery and equipment. It cooperates with more than 120 vendors at home and abroad," he said.

Head of French Credit Agricole’s retail, factoring and commercial department, Mark Oppenheim said Credit Agricole Group is proud to be a co-founder of the first leasing company in Armenia being able to assist in the economic development of the country.

ACBA Leasing leases machinery, vehicles, medical equipment, equipment for the mining industry and since 2011 also real estate. ($ 1 - 416.02 drams). -0-