Saturday, March 7 2015 10:54

 ACBA-CREDIT AGRICOLE BANK offers a new service - an ArCa Credit card with a declining line of credit. The press office of the Bank has told ArmInfo that when becoming ArCa Credit cardholders, the customers receive a local ArCa card with a 5-year validity and a declining line of credit. The ArCa Credit cardholders will be able to withdraw cash and to make payment operations with these cards. 

The source says that unlike the standard lines of credit, the declining credit line is monthly reduced by a certain amount fixed by the Bank beforehand and enables the customers to regularly redeem and zero out the current loan.     

Through the ArCa Credit card, ACBA-CREDIT AGRICOLE BANK provides a line of credit ranging from 500 thsd AMD to 10 mln AMD or the same amount in foreign exchange terms. No income certificate is required. Along with this, international Visa Electron, Maesto or MasterCard UEFA Champions League cards issued by ACBA-CREDIT AGRICOLE BANK can be linked to the ArCa Credit card account, enabling the cardholders to use the lines of credit outside Armenia as well. 

According to the Analytical Review "Armenian Banks in Card Business" prepared by ArmInfo, ACBA- CREDIT AGRICOLE BANK is among the top three banks by the number of active cards. As of 1 Oct 2014, the Bank had over 161 thsd active cards (up 8 thsd cards over year), with over 56% being local ArCa cards, nearly 33% - international Visa cards and 11% - Master Cards. The Bank is also among the top three in terms of balances on the credit cards (up 11.5% as compared with the same period of 2013, up 92.6% within a three-year dynamics). The Bank retains leadership by the number of ATMs and POS-terminals, considerably outstripping the rest of the market participants. As of 1 Oct 2014, the Bank had 202 ATMs and 1232 own POS-terminals. ACBA-CREDIT AGRICOLE BANK initiated the introduction of American Express cards and opened a new field for development of the card market in Armenia. At the initial stage (in March 2010) the Bank received the right to service the AmEx cards in the trade outlets of Armenia.  Afterwards, it became the exclusive agent of American Express and on 23 November 2010 the Bank launched the issue of American Express Gold cards. In October 2011 ACBA-Credit Agricole Bank introduced an unprecedented card product in the Armenian market - American Express Blue Card (AmEx Blue).

"ACBA-CREDIT AGRICOLE BANK" CJSC has been operating in Armenia since 1995. Since September 2006, the majority shareholders of the Bank are 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.