YEREVAN, May 5. /ARKA/. ACBA-CREDIT AGRICOLE BANK plans to earn this year AMD 3.8 billion in profits, ACBA-CREDIT AGRICOLE BANK Chief Executive Officer Hakob Andreasyan told journalists on Tuesday.

«We expect that all the losses that were temporary in 2014 will be recovered in 2015, and as a whole, we are already happy about this year's trends,» he said.

Andreasyan said the lending to agriculture sector, small and medium businesses and individuals is ACBA-CREDIT AGRICOLE BANK's top-priority focus and the bank will continue its way in this direction.

He stressed that the bank attaches significance not only to achievement of the planned indicators, but also to implementation of other important projects in 2015, which will produce results in the long run.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA-CREDIT AGRICOLE BANK.

ACBA-CREDIT AGRICOLE BANK's assets totaled AMD 278.6 billion, liabilities AMD 228.7 billion and credit investments AMD 182.9 billion by April 1, 2015. Its capital amounted to AMD 49.9 billion.

The bank's profit for the first quarter of this year amounts to AMD 783.9 million. ($1 – AMD 480.62). M.V.-----0-----