YEREVAN, February 19. /ARKA/. Eighteen years ago, Vahram Matevosyan from Vayots Dzor province's village of Aghavnadzor, along with his family, started producing wine - Matevosyan Wine. Initially, it was just a hobby - the Matevosyans made wine for friends, and later they built a factory and the father and his son established a family business.

Vahram Matevosyan's son, Vazgen, remembers that he just returned home after completing his army service when his father embarked on wine production. It was a risky business. A plant was built over a period of three months and the first procurement of grapes was carried out.

ACBA-CREDIT Agricole Bank was the first to believe in the Matevosyans' business. It became a partner from the very beginning of the construction of the factory and organization of the procurement and production processes.

Vazgen said that the family has put a lot of work into this business. He said he personally is responsible for quality. He said he purchases grapes and examines their quality. "From the very beginning of the construction of the plant, ACBA-CREDIT AGRICOLE BANK stands firmly next to us and help us in procurement, acquisition of equipment and export process as well as in financial and consulting issues," he said. "As a result, we have managed to advance. ACBA is my bank, I think so."

The bank is supervised by the Central Bank of Armenia.

ACBA-CREDIT AGRICOLE BANK was established in 1996 as part of European Union’s TACIS program. In September 2006, France’s Credit Agricole Group became the biggest shareholder of the bank, making considerable investments into its capital. -0---