ACBA-Credit Agricole Bank has signed a $ 17 million loan agreement with EBRD on SME financing

ArmInfo. ACBA-Credit Agricole  Bank has concluded a loan agreement with EBRD for $ 17 million to  provide financial assistance to small and medium-sized businesses.  ArmInfo was told in the press service of the ACBA-Credit Agricole  Bank that within the framework of this agreement SME financing will  mainly be carried out in drams.

According to the source, of this amount, $ 3 million will be used to  finance enterprises established or run by women in the framework of  the Women in Business program, and $ 4 million through the ACBA-  Leasing leasing company will be used to implement energy-efficient  projects.

According to the Financial Rating of the Armenian Banks as of July 1,  2018, prepared by IC ArmInfo, ACBA-Credit Agricole Bank is among the  top ten in terms of investments in the SME sector - about 49 billion  drams, with an annual growth of 17.7%. In total loans of the banking  system to the SME sector, the share of ACBA-Credit Agricole exceeds  7%, and in its own loan portfolio, the share of loans to this sector  reaches 22%.  To recall, "ACBA-Credit Agricole Bank" CJSC 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 the Credit Agricole S.A group) - 12.44%, "ACBA Federation"  CJSC - 71%. ACBA-Credit Agricole Bank is included in the TOP-5 branch  network coverage, and holds the 3rd position by the number of  regional branches. According to the main balance sheet indicators,  the Bank holds positions in TOP-5: the total capital as of July 1,  2018 was 61.7 billion drams (3rd position), assets - 316.2 billion  (4th position), loan portfolio - 225.5 billion (4th position), total  liabilities - 254.6 billion (4th position). The first half-year of  2018 ACBA-Credit Agricole Bank completed with a net profit of 3.9 bln  drams (3 position), having increased it in the annual cut by 44%.