ArmInfo. ACBA-Credit Agricole Bank finances the program of equipping the regions of Armenia with clean energy sources. As the press service of the Bank told ArmInfo, projects on creating infrostructures for producing clean energy are being implemented at present with the bank's funds in 12 communities. Along with this, the bank is considering applications for financing a similar project in 30 more communities.
According to the source, at the beginning of this year ACBA-Credit Agricole Bank within this program financed establishment of energy efficient infrastructures in Qasakh, particularly the lighting network of the kindergarten, significant buildings and streets of the community were switched to clean energy sources. Green infrastructures in the Qasakh community allowed avoiding annual release of about 105 tons of carbon dioxide into the atmosphere, and the electricity expenses will be saved by at least 6 million drams a year.
Within the framework of the program, ACBA-Credit Agricole Bank provides financing exclusively in AMD, without service fees, at a rate of 9% per annum, with a maturity of up to 5 years. One can find details of the terms of financing on the website of ACBA- Credit Agricole Bank at https://www.acba.am/hy/business/financing-forcommunities/communities-factoring, or at any of the bank's branches (addresses: https://www.acba.am/hy/about-bank/Branches-and-ATMs)
According to the Financial Rating of Armenian Banks prepared by ArmInfo News Agency as of July 1 2018, , ACBA-Credit Agricole Bank enters the TOP-5 by branch network coverage, and TOP-3 by the number of regional branches. By the main balance sheet indicators the Bank retains position in the TOP-5. The total capital of the bank at that date was 61.7 billion AMD (3rd position), assets - 316.2 billion (4th position), loan portfolio - 225.5 billion (4th position), total liabilities - 254.6 billion (4th position). In H1 2018, ACBA-Credit Agricole Bank completed with a net profit of 3.9 billion AMD (3rd position), increasing it 3-fold in y-o-y terms. ACBA-Credit Agricole Bank is a permanent leader in the agricultural credit market - 84 billion AMD or over 35% of the loan portfolio of the bank, and in the total agrocredits of the banking system, the share of ACBA- Credit Agricole is about 48%. 49 bln AMD or over 22% of the bank's loan portfolio were invested in the SME sector.
To recall, "ACBA-Credit Agricole Bank" JSC has been operating in Armenia since 1995. The majority shareholders of the bank are: the largest European banking group Credit Agricole S.A. with a 15.56% interest in the capital, SJSC "Sacam International" (a member of Credit Agricole S.A) - 12.44%, "ACBA Federation" JSC - 71%.