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 Friday, August 10 2018 15:35
Karine Melikyan

ACBA-Credit Agricole Bank finances program on providing Armenia`s  regions with clean energy sources 

ACBA-Credit Agricole Bank finances program on providing Armenia`s  regions with clean energy sources 

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%.

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