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ACBA Bank Renamed To ACBA-Credit Agricol Bank

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  • ACBA Bank Renamed To ACBA-Credit Agricol Bank

    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.
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