by Gayane Isahakyan
On May 58, ACBA-Credit Agricole Bank officially opened a Yeritasardakan (Youth) Branch (the 49th branch) in Yerevan. The opening of the branch was timed to the 50th birth anniversary of Chief Executive Officer of ACBA-Credit Agricole Bank Stepan Gishyan, who died at the age of 49.
The new branch is located at 36, Abovyan Street, near the namesake station of the Yerevan Metro. The branch was registered by the Central Bank of Armenia on April 9.
Hakob Andreasyan, the newly-appointed CEO of ACBA-Credit Agricole Bank, told media that it was Stepan Gishyan's wish to name the branch "Yeritasardakan". "Though the new branch will offer a full package of banking products, it is first of all youth- oriented. We seek to enhance the affordability of our services for the young people. New products in consumer lending, new card projects and new business loans for start-ups will be worked out", said Andreasyan. He added that the Bank intends to expand its presence throughout Armenia even more.
"This year we are planning to open six more branches – three in Yerevan and three in regions and will continue opening branches next year too," Andreasyan said.
ACBA-Credit Agricole Bank has the third largest branch network in Armenia's banking system. It has 49 branches (11 in Yerevan and 38 all over Armenia).
The shareholders of the bank are Credit Agricole – 15.56% and SJSC Sacam International – 12.44% (member of Credit Agricole S.A. Group) and 10 agricultural cooperative banks. ACBA-Credit Agricole Bank is among the five most efficient banks in Armenia.