FRENCH CREDIT AGRICOLE BANKING GROUP PROVIDES 42 MILLION DOLLARS TO ARMENIAN ACBA-CREDIT AGRICOLE BANK

Noyan Tapan

Nov 4, 2008

YEREVAN, NOVEMBER 4, NOYAN TAPAN. Credit Agricole banking group
(France), one of the world’s biggest banks, has provided a 42 million
dollar credit to ACBA-Credit Agricole Bank (Armenia). According to
ACBA-Credit Agricole Bank, the credit will enable it to increase
crediting of small and medium business in the real sector of the
Armenian economy.

ACBA-Credit Agricole Bank was founded in 1996 under the TACIS
program. In 2006 Credit Agricole banking group became a shareholder
of the Armenian bank. Today it has 31 branches in all Armenian marzes
and provides banking services to more than 248 thousand customers.

The overall capital of ACBA-Credit Agricole Bank made about 25 bln
drams (over 81 mln 747.4 USD) as of September 30, 2008. Its assets
amounted to over 113 bln drams.