YEREVAN, May 6. /ARKA/. ACBA-CREDIT AGRICOLE BANK has opened a new branch called ‘Youth’ in the center of Yerevan.

“We consider it very important the branch is opened today. He is named ‘Youth”, the way the general director of the bank Mr Stepan Gishyan wanted”, chief executive officer of the bank Hakob Andreasyan told reporters at the branch opening ceremony.

Stepan Gishyan died untimely at 49 on March 22, 2014.

Andreasyan said the bank is planning to provide young people with wider access to its services in this branch opened in the vicinity of the majority of higher schools in the capital.

The entire line of the banks’ product will be offered in the new branch. Apart from this, young people will get access to new products and an opportunity to communicate with the bank here, the CEO said.

New products may include cards and consumers loans. The bank is currently discussing the possibility of extending business loans to representatives of the young generation.

Another novelty coming with the new branch is that the windows in the office of the branch manager are made of transparent glass. When required, the manager will serve clients himself, in case of inflow of visitors in particular.

“This way we want to make the process transparent and create new standards in our country so that everyone can see the manager is an ordinary banking officer, but with higher share of responsibility”, the CEO said.

Andreasyan also said the bank is planning to open another six branch offices in the country, three of them in Yerevan and two in Giumry.

ACBA-CREDIT AGRICOLE BANK was established in 1995 as part of the European Union’s TACIS program. In 2006, CREDIT-AGRICOLE GROUP invested substantially into its capital becoming its largest shareholder.

As of April 1 2014, the bank’s assets were 264.6 billion drams ($640.2mln); loan investments amounted to 178bln drams ($430.6mln), owned capital – 53bln drams ($128.2mln). Deposits totaled 109.6bln drams ($265.1mln).

Number of the bank’s clients has grown by 25 times over the years of its existence to about 276,000 people today. –0--