Acba Bank to allocate AMD 6bln to payment of dividends for 2024 

ArmInfo. At the annual general meeting, Acba Bank shareholders decided to allocate 6.584 billion drams or 1100 drams per share from the net profit of 28.8 billion  drams received in 2024 to pay dividends. This was noted in the  statement of Acba Bank published on June 18.  According to the  decision on the payment of dividends, the payments should be  completed on June 20, 2025.

During the meeting, it was announced that in 2024 the bank made  significant progress in the field of corporate governance, increasing  the confidence of shareholders and investors. In this regard, special  significance was attached to the fact that Proparco (a subsidiary of  the French Development Agency) became a shareholder of Acba Bank in  2024 with a 10% share in the capital, which indicates high confidence  in the bank.

2024 was also a year of unprecedented development of partnerships  with international organizations for Acba, marked by the conclusion  of record loan agreements and risk-sharing deals. In particular, the  European Investment Bank (EIB) provided ?55 million, the US  International Development Finance Corporation (DFC) - $50 million,  the Japan International Cooperation Agency (JICA) - $50 million, the  International Finance Corporation (IFC) - $50 million (using the  50/50 risk-sharing mechanism), the European Bank for Reconstruction  and Development (EBRD) - ?50 million. In addition, in 2024, Acba Bank  and American Express announced the expansion of the framework of  their multi-year partnership.

At the meeting, it was announced that the priorities of Acba Bank's  strategy for 2025 are innovation, internal efficiency and sustainable  development. It is planned to significantly develop the capabilities  of digital platforms through the introduction of new services and  analytical tools. Acba looks confidently to the future, continuing to  strengthen its position in the financial market, creating long-term  value for its shareholders and the entire society.

Chairman of the Board of Acba Bank Rafael Sargsyan noted: "ACBA  continues its mission to build a company with strong corporate  governance. We are creating a transparent and accountable system,  where the powers of the shareholders, the Board and the Management  Board of the bank are well balanced, and the beneficiaries of all  this are not only the shareholders, but also other stakeholders of  the bank, including customers and employees, the Central Bank of  Armenia, the bank's partners and the public. Our task is to  understand their interests well and take care of them." 

Acba Bank CEO Hakob Andreasyan noted: "We enjoy the trust of our  international partners and are strong in the experience accumulated  during the cooperation with them. I believe that by doing so we send  a clear message about transparency and predictability, and the  acquisition of the bank's shares is a very successful and profitable  investment in the long term." Acba Bank CFO Stepa Zakinyan added:  "The bank demonstrates stable growth year after year in its core  business, profit, customer base and development of digital  technologies. On average, Acba Bank doubles its business volumes  every 4-5 years, i.e. ensures annual growth of 15-20%."

In 2024, Acba Bank ensured high double-digit growth in key balance  sheet indicators: Assets increased by 18.9% to 931.7 billion drams;  loan portfolio - by 16.8% to 629.3 billion drams; capital - by 22.8%  to 163.4 billion drams; deposits and funds raised from issued bonds -  by 18.9% to 623.5 billion drams. In addition, in 2024, the number of  users of the digital innovative system acba digital increased by  37.9%, approaching 530 thousand. Acba Bank maintains leadership in  the plastic cards market, also ranking first in the number of POS  terminals and ATMs. 

Before Proparco (<Societe de Promotion et de Participation Pour la  Cooperation Economique> Public Limited Company) entered into the  capital of Acba Bank, the shareholders' equity participation was as  follows: CJSC "ACBA Federation" - 81.62%, SJSC "Sacam International"  - 4.55%, and the remaining 13.83% were legal entities and  individuals, including employees of ACBA Federation, Acba Leasing and  Acba Bank. After Proparco acquired 10% of Acba Bank shares, the share  of CJSC "ACBA Federation" decreased to 75%, Sacam International  decreased to 2.24%, and the share of legal entities and individuals  (including employees of ACBA Federation, Acba Leasing and Acba Bank)  decreased to 12.76%. The deal for the acquisition of 10% of Acba Bank  shares by Proparco took place in the fourth quarter of 2024.