CBA licenses three branches of ACBA-Credit Agricole bank
29.12.2007,
00:15
The Central Bank of Armenia (CBA) has licensed three new branches of the ACBA-Credit Agricole Bank, the CBA press service reports. CBA Chairman Tigran Sargsian made this decision today.
YEREVAN, December 28. /ARKA/. The Central Bank of Armenia (CBA) has licensed three new branches of the ACBA-Credit Agricole Bank, the CBA press service reports. CBA Chairman Tigran Sargsian made this decision today.
The ACBA-Credit Agricole Bank CJSC (formerly the Agricultural Cooperative Bank of Armenia) was established in 1995 and obtained a full banking license on March 29, 1996. The bank was founded within the framework of TACIS project of European Union and was based on the organization structure of European co-operative banks.
In 2006 Credit Agricole S.A., France, made an investment in ACBA's capital and the Bank was renamed and reorganised into ACBA-Credit Agricole Bank. At present Credit Agricole S.A. is the main shareholder of the bank with 28% of shares (other shareholders are 10 Agricultural Cooperative Regional Unions).
According to official data, the bank’s capital totalled AMD 20.4bln on September 30, the assets reaching AMD 68.9bln. The balance sheet profit totaled AMD 3.7bln and the profit was AMD 2.3bln in January-September 2007. At present the bank has 21 branches. –0--
The ACBA-Credit Agricole Bank CJSC (formerly the Agricultural Cooperative Bank of Armenia) was established in 1995 and obtained a full banking license on March 29, 1996. The bank was founded within the framework of TACIS project of European Union and was based on the organization structure of European co-operative banks.
In 2006 Credit Agricole S.A., France, made an investment in ACBA's capital and the Bank was renamed and reorganised into ACBA-Credit Agricole Bank. At present Credit Agricole S.A. is the main shareholder of the bank with 28% of shares (other shareholders are 10 Agricultural Cooperative Regional Unions).
According to official data, the bank’s capital totalled AMD 20.4bln on September 30, the assets reaching AMD 68.9bln. The balance sheet profit totaled AMD 3.7bln and the profit was AMD 2.3bln in January-September 2007. At present the bank has 21 branches. –0--
