Saturday, April 11 2015 11:16

 ACBA-Credit Agricole Bank has launched the new "Saving Credits" product. The presentation of the product took place on April l10 during the conference "By Saving Energy We Save Money".  

"The saving credits will be allocated aiming at the implementation of energy-saving projects and the assimilation of such technologies in the Armenian business environment and household. The Bank is determined to bend every effort to make energy-saving technologies as affordable as possible for the Armenian market", said ACBA-CREDIT AGRICOLE BANK CEO Hakob Andreasyan. According to him, the bank will allocate credits for the purchase of energy-saving manufacturing, agrarian and household appliances, as well as for the renovation of residential and other quarters with the use of thermal insulating materials, windows, doors, etc.  

According to Andreasyan, before offering clients to participate in energy-saving projects the bank firstly practiced the technologies. "We will keep implementing environment protection projects to show that energy-saving is real, effective and promising", said the CEO.   

Due to the contribution of the European Fund for Southeast Europe and "Energocredit Armenia", ACBA- Credit Agricole and  "ACBA Leasing" have launched the product. The bank will allocate credits at the interest-rate of 11-13%. The payment term will be the same as the payback period. The maximum credit amount (co-financed by "Energocredit Armenia") is 30 thsd USD. 10% will be subjected to return as a reward for the environment protection. There are no limits on credits co-financed by European Fund for Southeast Europe. 

Over recent years ACBA-Credit Agricole Bank has implemented a number of large-scale energy- saving projects. In cooperation with the "Armenia Renewable Resources And Energy Efficiency Fund" the bank has introduced the "Heating on Credit" service to the Armenian market. In 2006-2007 the bank allocated 7743 credits amounting to 4.7 billion AMD.  In 2014 within the product "On-Site Installment Credit" the bank allocated 3177 credits for the purchase of energy-saving household appliances. 10% of the credit was subjected to return to the borrower. At year-end the total amount of allocated credits was 848 mln AMD. Last year solar energy collectors were installed in the headquarters and 14 branches of the bank. 

According to the Ranking of Banks and Credit Organizations of Armenia as of 1 Jan 2015 by the Agency of Rating Marketing Information (ArmInfo), ACBA-Credit Agricole Bank is in the lead in the Armenian banking system in terms of total capital - 49.4 bln AMD. The Bank holds the fifth position by assets - 286.4 bln AMD (7% year-over-year growth), 4th position by lending - 202.4 bln AMD (71% in assets). The Bank is among the top 10 in terms of lending to economy sectors - 68.8 bln AMD. In the loan book of the Bank industry makes up 19%, agriculture - 32%, trade - 12%, construction, transport and communication - 2% each, public catering and services - over 3%, consumer loans - over 26%, SME - 24%. By its general obligations the Bank is ranked the 6th - over 237 bln AMD. The Bank is the fourth in terms of time deposits - 104.2 bln AMD. By its leasing operations, the Bank retains leadership - 8.9 bln AMD. 

ACBA Leasing retains leadership in all the key indices among the leasing companies. As of 1 Jan 2015, the total capital of ACBA Leasing amounted to 3.3 bln AMD (7.4% year-over-year growth). The assets totaled 14.9 bln AMD (20.5% year-over-year growth). The lending totaled 9.2 bln AMD or 62% of the company's assets (15.5% year-over-year growth). The general obligations made up 11.6 bln AMD (up 24.7%), and the profit totaled 223.3 mln AMD (up 35.7%).

"ACBA-Credit Agricole Bank" CJSC has been operating in Armenia since 1995. Since September 2006, the majority shareholders of the Bank have been Credit Agricole S.A. (15.56%) and SJSC "Sacam International" (part of Credit Agricole S.A - 12.44%). Along with them, 10 agricultural cooperative unions hold shares in the capital of ACBA- Credit Agricole Bank. The customer base of the Bank has grown 25- fold since the Bank was founded, which demonstrates high confidence in the Bank. Over the past 10 years, the branch network of the Bank has increased 6-fold and now it has 54 branches (3rd position in the market), including 40 in Armenia's provinces. "ACBA Leasing" CJSC is the first leasing company in Armenia. It has been operating since 2003. The majority shareholders of the company are ACBA-Credit Agricole Bank (54%) and Credit Agricole Leasing & Factoring (38%).