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Head Of ACBA-Credit Agricole Bank Awarded 'National Order For Desert

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  • Head Of ACBA-Credit Agricole Bank Awarded 'National Order For Desert

    HEAD OF ACBA-CREDIT AGRICOLE BANK AWARDED 'NATIONAL ORDER FOR DESERTS'

    ArmInfo
    2009-03-27 15:46:00

    Ambassador of France to Armenia Serge Smessow has awarded Director
    General of ACBA-Credit Agricole Bank Stepan Gishyan a "National Order
    for Deserts". The solemn awarding ceremony was held on March 26 in
    the French Embassy in Armenia with participation of Armenia's Prime
    Minister Tigran Sarksiyan, Economy Minister Nerses Yeritsyan, Chairman
    of Central Bank Artur Javadyan, delegation of the French banking group
    of Credit Agricole and representatives of Armenia's financial system.

    According to S. Smessow, S. Gishyan is awarded for his contribution
    to development of the French-Armenian relations. "This award has
    been deserved. S. Gishyan is a close and sincere friend of France,
    he has done much for development of France-Armenia cooperation",
    the ambassador said. He added that S. Gishyan permanently renders
    assistance to the French University in Armenia, as well as supports
    holding of different cultural events by the Embassy. "It is important
    that S. Gishyan is both Francophile and Francophone", S. Smessow
    emphasized.

    For his part, S. Gishyan said the cooperation of ACBA-Credit Agricole
    Bank with the French banking group of Credit Agricole has been lasting
    for 15 years already and it is exemplary by its results. "The major
    part of our bank staff is French-speaking, moreover, we serve almost
    all the French-speaking persons in Armenia", S. Gishyan emphasized.

    According to the Ranking of Armenia's commercial banks, prepared by
    the Agency of Rating Marketing Information (ArmInfo), "ACBA-Credit
    Agricole Bank" takes the leading positions by key indicators as of
    January 1, 2009. So, the bank's total capital as of this date made up
    $85 mln (1st position), assets - $403.6 mln (1st position), volume of
    credit investments - $279.8 mln (1st position). Over 70% in the total
    portfolio of agricultural credits of Armenia's banking system fall on
    "ACBA- Credit Agricole Bank" which specializes mainly on crediting
    of agriculture. The bank completed the year 2008 with net profit of
    $14.5 mln (2nd position). The French banking group Credit Agricole
    has been a majority shareholder of "ACBA-Credit Agricole Bank" since.
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