 Unprecedented growth recorded in ACBA-Credit Agricole Bank credit portfolio March 30, 2011 - 16:13 AMT PanARMENIAN.Net - Stepan Gishyan, CEO of ACBA-Credit Agricole Bank, said that the bank secured an unprecedented growth in its credit portfolio in 2011. “The AMD 100bln figure was exceeded 10 days ago, currently our loan portfolio makes AMD 104bln,” said Gishyan. On March 30, a loan agreement was signed between IFC, a member of the World Bank Group, and ACBA-Credit Agricole Bank, under which IFC will allocate USD 20mln to the bank to finance SMEs, including those operating in agribusiness sector. Gishyan said that the share of agriculture lending makes AMD 30bln in the bank’s total credit portfolio. Gishyan added that the bank plans to increase its loan portfolio by the end of the year, including due to cooperation with other international financial organizations. Referring to the government’s initiative to stimulate agriculture through subsidizing agricultural loans at the amount of 4%, Gishyan said that the bank will actively participate in the program to be launched soon, considering the program to be a promising one.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months  The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan.Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem."U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says.Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |
