Thursday, October 28 2021 11:06

ArmInfo.Since the announcement of the issue of shares by ACBA Bank (in September of this year) to this day, about 4000 individuals and legal entities have invested  over 4.5 billion drams, becoming shareholders. As noted in the  message of the Bank, this is the largest placement of shares held in  Armenia. A similar scale of placement is already ensured by further  listing of ACBA Bank shares on the liquid platform of the AMX/Armenia  Securities Exchange.

ACBA Bank Chief Executive Officer Hakob Andreasyan noted: "The  investor has two reasons to become a shareholder of ACBA Bank:  financial and non-financial. The financial goal of the acquisition is  very specific - to get a stable and long-term income. And in  non-financial terms, we give people the opportunity to become a  shareholder and participate in one of the best companies (groups) in  Armenia, and, having become a shareholder, everyone can take part in  management. The first reason that made such a step was due to the  fact that during 25 years of working with an army of clients, they  already considered this bank their own, they themselves contributed  to our strengthening. We had to give them the opportunity to purchase  shares at book value. I am glad that the number of our shareholders  is increasing, the process is very positive. We feel obligated to do  better, be more transparent and manage our financial group more  effectively. "

More details of the news are presented in the video under the link:   https://www.youtube.com/watch?v=lgrUevTKjNk.

To note, the start of the issue of the first shares of ACBA Bank OJSC  was announced on September 13, 2021, in the amount of 500 thousand  shares, with a total volume of 7.5 billion drams (at the placement  price). 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.

The funds received from the placement of shares are planned to be  directed to the development of the Armenian economy, in particular,  agriculture, the formationof 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.

According to the Financial Rating of Banks of Armenia as of September  30, 2021, prepared by ArmInfo IC, the authorized capital of ACBA Bank  amounted to 50 billion drams (4th place in the market), and the total  capital - 75.3 billion drams (3rd place in the market). The  accumulated profit of the Bank by October of this year exceeded 10.8  billion drams. The Bank completed 9 months of 2021 with a net profit  of 7.4 billion drams (3rd place), with a 3-fold y-o-y growth, and in  Q3 alone, net profit increased 4.6-fold- up to 5.5 billion drams (1st  place). As of September 30, 2021, the shareholders of ACBA Bank are  "ACBA Federation CJSC " with a share in the capital of 92.05%, "Sacam  International" SJSC (a member of the Credit Agricole banking group) -  5%, and the remaining 2.95% shares since July this year, were  distributed among 1116 employees of ACBA Bank, ACBA Federation and  ACBA Leasing. (The estimated exchange rate of the dram against the US  dollar as of September 30, 2021 was 484.20 AMD / $ 1).

To remind, in the banking sector of Armenia, "Armeconombank" OJSC was  traditionally distinguished by an impressive number of shareholders,  having 5027 shareholders as of June 30, 2021.