ACBA Credit Agricole CEO Stepan Gishyan said that there are all prerequisites in Armenia for implementation of foreign direct investments.

According to him, the inflow of foreign investments to Armenia has a positive impact on its economy development, while the bank’s cooperation with French banking group, Credit Agricole, can serve as a contagious example.

“Being a universal bank, over four years we have managed to occupy leading positions in Armenia’s banking system by all indices,” Gishyan told a national conference in Yerevan – Foreign Direct Investments in Armenia.

Specifically, the number of bank employees has reached from 250 to 900 people, the number of bank branches – from 12 to 40. Besides, the bank capital has increased, amounting to USD 100mln. The bank assets have amounted to USD 500mln, while its profit has grown by 10 times over four years, totaling USD 10mln.

According to Gishyan, investments in Armenia are profitable, as there are niches, which are underdeveloped or almost not developed. He urged not impede investors.

Gishyan noted that the country’s government stimulates inflow of foreign investments, reforming the legislative field.