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Ankara's Second Response to Putin's Statement on the Recognition of the Armenian Genocide

Vladimir Putin: Armenia and Russia Have Always Been, Are and Will Be Close Allies

Knesset Member Criticizing Israeli Government for Denying Armenian Genocide

Georgian Armenians Demonstrating in Front of Turkish Embassy in Tbilisi

Canadian Prime Minister Calling upon Yerevan and Ankara to Resume Negotiations on Normalization of Relations

Serzh Sargsyan: Ankara made vein attempt to resist or affect larger process related to recognition of genocide

First Commemorative Demonstration on the Armenian Genocide to Take Place in Rome since 1975

Erdogan: Turkey shares Armenians' pain

President of Armenia: I refuse to believe that transitory interests can shatter humanity's dreams of freedom and peace cherished for centuries

Serzh Sargsyan: "Turkey's proposal of establishing the so-called commission of historians has only one goal, which is to delay the process of the Armenian Genocide recognition"

Turkey's Labor Party (EMEK) and some local human rights organizations condemn Genocide of Armenians

Russian expert: Putin's participation in Armenian Genocide Centennial events not to edit Moscow's geopolitical maneuvering

Vladimir Putin: 1.5 mln Armenians were killed, 600 thsd were deported, unique historical monuments and invaluable books and manuscripts were destroyed in 1915

Serzh Sargsyan: "We are ready to embark upon a constructive dialogue with Turkey in case it faces its own history"

Francois Hollande: World community must remember Genocide to prevent it in future

Serbia President: "We have no moral right to forget the Armenian Genocide victims and the shocking facts of the past"

ANCA: Sad spectacle of President Obama playing word games with genocide falls beneath dignity of American people

Foreign Minister of Armenia: German President's statement important contribution to prevention of new genocides

Serzh Sargsyan: Armenia has never declared any territorial claims either to Turkey, or to any other country

Armenian president's interview with Hurriyet: "Turkish authorities taking burden of responsibility for crime perpetrated by authorities of Ottoman Empire"

Presidents of Russia, France, Serbia, and Cyprus arrive at Armenian Genocide Memorial in Yerevan

Google.am honors memory of Armenian Genocide victims

High-ranking representatives of various countries 'forming' a forget-me-not of peace near Armenian Genocide Memorial in Yerevan

Serj Tankian calls on Armenia's leadership to create egalitarian civic society, to get rid of institutional injustices and stop depopulation of Armenia

Obama breaks his word again

Founding Parliament Movement looks to change power in Armenia

Vladimir Putin arrives in Yerevan to commemorate Armenian Genocide martyrs

Bulgarian MP: Bulgaria has refused to discuss the draft resolution on Armenian Genocide under Ankara's pressure

Congressman Schiff Reads Names of 1,000 Armenian Genocide Victims on House Floor

Nalbandian: Recurrence of genocides in XX century was result of international community's hesitation and inconsistency

Cardinal Curt Kokh: Faith Helped Armenians Survive the First Genocide of 20th Century

Turkish Politician: Turkish Society Desires the Opening of Borders with no Preconditions

Ankara responds to Austria's resolution recognizing Armenian Genocide

Ambassador: German Policy Cannot be Affected by Phone Call from Turkey

Deutshe Welle: German parliament's decisiveness and new debate about term "genocide" gained momentum thanks to Pope Francis and President Gauck

System of a Down starts a concert in Yerevan in heavy rain

President of Germany: Ethnic cleansing, massacre, mass killing of Armenians in 1915 are a clear example of Genocide

MP: Some delegates from Turkey support PACE's declaration on Armenian Genocide

German parliamentarian calls on Turkey to show courage and face black pages in its history

PACE adoptes written declaration "Commemoration of the Centennial of the Armenian genocide"

Catholicos of Great House of Cilicia brings relics of Armenian Genocide martyrs to Armenia

Russian State Duma Vice Speaker: "Russian Parliament will adopt a statement on Armenian Genocide Centennial on April 24"

Mohammad Jihad al-Laham: Syria Condemning Armenian Genocide

Vice Speaker of Czech Parliament cites Hitler: "Who, after all, speaks today of the annihilation of the Armenians?"

Commission on Security and Cooperation in Europe to hold hearings ""A Century of Denial: The Armenian Genocide and the Ongoing Quest for Justice""

Richard Charentsky says Armenians were killed in Ottoman Turkey just because of nationality and religion

Merkel in soft tones explains Germany's stand on Armenian Genocide to Davutoglu

Speaker of Greek Parliament: Athens Supporting Armenia's Aspiration for International Recognition of Genocide

Milorad Dodik: By banning flights Ankara cannot achieve revision of its history

Israel's President draws direct historical link between world's failure to prevent Armenian genocide and Holocaust

Exclusive

Gayane Novikova: The South Caucasus states are trapped by the Ukrainian crisis

Ashot Manucharyan: Russia Does Not Need Parliamentary Armenia

Samvel Farmanyan: Turkey will recognize Armenian Genocide and will do it under pressure of its own public

Yana Amelina: "Weapon strategy" of Moscow will stop only after world geopolitical balance is restored

Vardan Voskanyan: Iran assumes functions of "a gendarme" to remove chaos in Middle East

“Angels” and “Demons” of Film Director Hovhannes Galstyan

Andrey Areshev: Karabakh-related humanitarian initiatives from Russia could be useful

Sevak Sarukhanyan: Concerns about possible emergence of ISIS in Azerbaijan focus Tehran's attention on Baku

Alexander Zinker: Israel has never before been so close to recognition of Armenian Genocide

Andrey Yepifantsev: Russia and Armenia have what to keep silence about

Promise to convict Permyakov at 102nd Russian military base in Armenia is already a big gesture of Russia

Ruben Safrastyan: Turkey fears consequences of Armenian Genocide denial

Serious trends of geopolitical changes in South Caucasus lead to clashes and redrawing of borders

Armenian Men are Also Eager to Look Young

Karine Danielyan: The women who prefer being mothers deserve the same respect as female politicians

Georgian political expert: Putin has put his mind on implementing Primakov Doctrine

Gagik Mkrtchyan: Our country not only can but also should develop industrial production

Arthur Ashughyan: Future of lapidary industry depends on how competitive and efficient it is

Avaz Hasanov: OSCE MG, Russia, EU, or U.S. can impose no pressure upon Armenia and Azerbaijan in the matter of Karabakh

ACBA-Credit Agricole Bank launches ACBA Business Partner Loan+ service for legal entities

  • by Gayane Isahakyan

  • Thursday, June 26, 17:38

ACBA-Credit Agricole Bank has launched an ACBA Business Partner Loan+ service. The press service of the Bank has told ArmInfo that this service is for the legal entities, which have business loans in other banks and credit companies but at the same time need new funds without spending additional time.

 

The source says that the new product has the following key advantages: the Bank conducts no financial or economic analysis of the enterprise to make a decision to issue a loan; the Bank makes the decision to issue the loan within an hour after the application is submitted; in case of the annuity method of loan repayment, the Bank provides the borrower with extra loan funds; the issue of the loan needs minimum documents; the borrowers are not required to spend money on property appraisal and insurance. The Loan+ is provided for 12-72 months at an interest rate starting from 8% p.a. The loan is provided in AMD, USD and EUR. In case of a collateral, the maximum amount of the loan is 14 mln AMD, $35 thsd or 28 thsd EUR.  The maximum amount of an unsecured loan is 3 mln AMD, $7.5 thsd or 6 thsd EUR. The legal entities, which apply to ACBA-Credit Agricole Bank before 10 August 2014 and open a current account at the Bank, will get an opportunity to make use of the ACBA ON-LINE system free of charge for a year, to receive a free Visa Business Card and to use it without paying any fee for the card servicing for a year; to receive an additional free Visa Business card; to receive a loan or a credit line for import/export stimulation at 8.99% p.a.

 

To note, two more banks offer a similar product in the market of financial services, namely, Ameriabank and INECOBANK, however, they provide it to SME borrowers only, unlike ACBA-Credit Agricole Bank.  Ameriabank does it within the frames of the Boomerang campaign, and INECOBANK - within the frames of the Easy Loans campaign.

 

According to the data of the Financial Rating of Armenian Banks prepared by ArmInfo, by the results of the 1Q 2014, ACBA-Credit Agricole Bank was the second at the banking market of Armenia by the size of credit portfolio. It increased the given indicator by 7,5% versus  1Q 2013 - up to 191.5 billion AMD. In general, the bank directed 70.8 billion AMD credits in the economy or 37% out of the credit portfolio of the bank. As of 1 April 2014, the total capital of ACBA-Credit Agricole amounted to 53 billion AMD, by 4,5% more versus 1 April 2013. The bank is the leader on this position. As for the assets, the bank is in the TOP-5. It ensured growth by 4,6% - up to 264,6 billion AMD. According to the results of 2013, net profit of the bank amounted to 5.1 billion AMD, by 24,4% versus 2012.

 

To recall, "ACBA-CREDIT AGRICOLE BANK" CJSC was founded in 1996 within the framework of the European Union’s TACIS program by the model of European cooperative banks. Initially, activity of the bank was targeted to financing rural economies of Armenia. Since 1999 the bank has started providing loans to small and medium enterprises, since 2001 - consumer loans and since 2003 - education loans.

 

At present the bank provides varied universal banking services:  opening and service of banking accounts, funds transfer, issuance of personal check books, currency exchange, issuance of bank guarantees, documentary credits, trade, agricultural, collateral, mortgage, consumer loans, as well as loans for education, repairs and heating, issuance and service of VISA international plastic cards and domestic ArCA, reception of household running costs, system management via ACBA ON-Line. In September 2006 the French Credit Agricole Banking Group purchased 28% shares of the Agricultural Cooperative Bank of Armenia [ACBA Bank], and the ACBA Bank was renamed to ACBA Credit Agricole Bank. The bank has 50 branches (including the Head office):  12 - in Yerevan, the rest in the 10 marzes of Armenia. 

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