ACBA-Credit Agricole Bank, Armenia

International Finance Corporation (IFC)
The proposed project is a US$20 million loan to ACBA-Credit Agricole Bank, Armenia’s leading bank by total assets. The proceeds of the loan will be used for on-lending to local micro, small, medium enterprises, in particular to companies in the agri-business segment. ACBA-Credit Agricole Bank is the largest bank in Armenia with total assets of $468 million as of June 30, 2010. The capital base is $101 million and the bank has a healthy capital adequacy ratio of 27%. Established in 1996 with help from the European Union and Credit Agricole, the bank’s largest shareholder is the Credit Agricole group, which holds 28%. Remaining shares belong to agricultural cooperatives from all regions of Armenia. The bank’s main focus is micro, small and medium-sized enterprises.
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