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ACBA BANK RENAMED TO ACBA-CREDIT AGRICOL BANK
Panorama.am
16:45 26/09/06
Tigran Sargsyan, chairman of Central Bank and Stepan Grishyan,
executive director for ACBA Bank, congratulated the public in a press
conference today saying Credit Agricole has bought 28% of ACBA Bank's
shares becoming the leading shareholder in the bank.
ACBA Bank has changed its name to ACBA-Credit Agricol Bank.
"Today we have not one but two transnational corporations which is
important for the banking system of the republic," Sargsyan said saying
HSBC had a monopoly position until now causing troubles in the market.
After the first investment the own capital of the bank has made up
10 billion Armenian drams.
Panorama.am
16:45 26/09/06
Tigran Sargsyan, chairman of Central Bank and Stepan Grishyan,
executive director for ACBA Bank, congratulated the public in a press
conference today saying Credit Agricole has bought 28% of ACBA Bank's
shares becoming the leading shareholder in the bank.
ACBA Bank has changed its name to ACBA-Credit Agricol Bank.
"Today we have not one but two transnational corporations which is
important for the banking system of the republic," Sargsyan said saying
HSBC had a monopoly position until now causing troubles in the market.
After the first investment the own capital of the bank has made up
10 billion Armenian drams.