YEREVAN, May 5. / ARKA /. ACBA-CREDIT AGRICOLE BANK has opened today a new Sayat-Nova branch in downtown Yerevan. Speaking at the opening ceremony, ACBA-CREDIT AGRICOLE BANK Chief Executive Officer Hakob Andreasyan said it is the 55th branch of the bank across the country, opened traditionally on the birthday of the former CEO Stepan Gishyan.

"The new branch will provide the full range of banking services, but along with it the branch will focus on providing services to small and medium-sized businesses, including loans, various banking services and a full service package," Andreasyan said.

According to him, the bank has developed packaged offers adapted for different segments of the SME sector with the most affordable rates.

He said the Bank plans further expansion of its branch network and is preparing to open another Teryan branch in Yerevan in the near future and is working also to step up it potential outside the capital city.

"Our main goal is to get closer to the population. We have branches in almost every region of the country and plan to open new branches in the largest ones," Andreasyan said.

The Sayat-Nova branch was formally registered by the Central Bank of Armenia on April 29.
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.

In 2014 the bank’s assets amounted to 286.4 billion drams; its liabilities were worth 237 billion drams and the capital stood at 49.37 billion drams. ($1 – 478.26 drams). -0-