YEREVAN, March 28. /ARKA/. The capital of ACBA-CREDIT AGRICOLE BANK will be substantially increased, deputy general director of French Credit Agricole bank Xavier Musca said Thursday at his meeting with Armenia’ premier Tigran Sargsyan.
The sides expressed condolences on untimely death of the CEO of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan who had great contribution to the development of Armenia’s banking system.
Sargsyan and Musca talked about programs to further develop ACBA-CREDIT AGRICOLE BANK.
Musca appreciated the development level of Armenia’s banking system and said they intend to increase the capital to facilitate implementation of various projects in the market, according to the report.
The premier welcomed the initiative and said the government is ready to provide its support to the bank’s management.
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.–0–