ACBA- CREDIT AGRICOLE BANK to carry on with planned development strategy, new CEO

08.05.2014 21:04
ACBA- CREDIT AGRICOLE BANK to carry on with planned development strategy, new CEO

YEREVAN, May 8. / ARKA /. The new leadership of ACBA- CREDIT AGRICOLE BANK will carry on with the planned development strategy, the new CEO of the bank, Hakob Andreasyan, told a news conference today.

Mr. Andreasyan was appointed CEO of the bank unanimously on April 23 by its shareholders. He has replaced Stepan Gishyan, who died on March 22 at age 49.

Mr. Andreasyan said the development strategy provides for expanding the bank’s representation across the country. In this regard, he recalled that on Monday the bank opened its 49th branch in Yerevan.

He said also the main financial indicators have recorded growth this year. In particular, the loan portfolio has grown from 163 billion drams in the beginning of the year to 176 billion drams.

On future plans, Mr. Andreasyan said that the bank's development strategy calls for stepped up lending to the agricultural sector, increasing consumer and mortgage lending, especially in providing mortgage loans to young families, as well as a more active work with small and medium-sized businesses .

"Our main emphasis will be on lending and providing banking products to young families, because we believe that this is the target group of clients with whom we can work for a long time," he said.

On April 1 the bank's assets stood at 264.6 billion drams ($ 640.2 million), its credit investments were worth 178 billion drams ($430.6 million), the equity capital stood at 53 billion drams ($128.2 million) and deposits totaled 109.6 billion drams ($ 265.1 million). The bank boasts 276,000 customers. -0-


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