YEREVAN, July 22. / ARKA /. ACBA-CREDIT AGRICOLE BANK said today that in partnership with American Express it has issued American Express Cashback cards for its Armenia-based clients.

"American Express Cashback cards are a new innovative product of the bank allowing cardholders to manage their funds and accumulate at the same time Cashback compensations for payment transactions,” the bank said in a press release.

According to the press release,  since Cashback is awarded for all payments made in Armenia, it allows customers to make more effectively daily cashless transactions.  American Express Cashback cards in Armenia are the first cards of American Express brand, which are available without a credit line.

American Express Cashback cardholders will receive also a number of lucrative offers, in particular, a 1% Cashback for all payment transactions made in Armenia and a 2% Cashback for payments made at some large supermarkets of the country.

"Depending on their financial needs customers, when requesting for American Express Cashback cards, may choose between cards, allowing to manage their funds, or cards with the possibility of obtaining an overdraft," the bank said.

In addition, American Express Cashback cardholders can take advantage of special offers of the international American Express Selects system both in Armenia and abroad.

American Express Cashback cards are available in AMD, euros and U.S. dollars. The annual servicing fee is 6,000 drams.

American Express Cashback cards can be obtained at any branch of ACBA-CREDIT AGRICOLE BANK or through filling out online application at the bank’s official website.

ACBA was established in 1996, within TACIS program of the European Union. Long-term and mutually beneficial cooperation between ACBA Bank and the leading French banking group Credit Agricole led Credit Agricole bank group to become the biggest shareholder of ACBA on September 15, 2006, by making a significant financial investment into the bank capital. ACBA was restructured, becoming a closed joint stock company and it was renamed ACBA CREDIT AGRICOLE BANK.

The bank's assets on July 1, 2014 totaled 273 billion drams (a 2.2 percent growth from the beginning of the year); its liabilities stood at 2.219 billion drams (an increase of 2.66 percent); its capital was worth 53.8 billion drams (down 0.5%). The bank has 276,000 customers and runs 49 branches across the country. -0 -