Monday, September 13 2021 18:31

ArmInfo.ACBA Bank OJSC issued its first 500.000 shares with a total volume of 7.5 billion drams (at the placement price). The Bank offers a new opportunity for  the future - "Become a shareholder". The press service of the Bank's  reports, indicating that shares can also be purchased through the  acba digital application.

The funds received from the placement of shares will be directed to  the development of the Armenian economy, in particular, agriculture,  the creation of new infrastructures, the efficient use of water  resources and a number of areas that will contribute to the  commensurate development of communities and the protection of the  environment. "All this will allow each of us to make our contribution  to the transformation of Armenia into a more developed and  progressive country," the Bank's statement says.

"By our example, we want to show others that no one will work instead  of us. Why become a shareholder of ACBA Bank, what advantages will it  give? The investor indirectly participates in the bank's social  projects in various areas of the country's development. We have  significant experience of working in the country, and we are such a  well- established and successful project that it is worth joining us  and contributing not only to the development of the bank, but also to  the development of society and the economy, "CEO of ACBA Bank Hakob  Andreasyan said.  

More information is available on the invest.acba.am 

To note, according to the issue prospectus, the par value of one  share of this issue is 10 thousand drams, and the price of placement  of one share is 15 thousand drams. That is, the total nominal volume  of the issue is 5 billion drams, and the volume at the placement  price is 7.5 billion drams.

According to the Financial Rating of Banks of Armenia as of June 30,  2021, prepared by ArmInfo IC, the authorized capital of ACBA Bank  amounted to 50 billion drams (4th position in the market), with an  increase in Q2 2021 by 66.7% (or 20 billion drams). The total capital  of the Bank as of that date was 69.8 billion drams (3rd place in the  market). The accumulated profit of the Bank by July of this year  amounted to AMD 5.3 billion. The Bank completed H1 2021 with a net  profit of 1.9 billion drams, with a y-o-y  growth of 25%, and in the  Q2 alone, the net profit increased by 82.4% - to 1.2 billion AMD. The  shareholders of ACBA Bank as of June 30, 2021 are "ACBA Federation"  CJSC with a share in the capital of 95% and "Sacam International"  SJSC - 5%. (The estimated exchange rate of the dram against the US  dollar as of June 30, 2021 was 495.86 AMD / $ 1).