A French bank, “Credit Agricole” has bought 28% of “ACBA” bank stocks and the bank will be named as “ACBA Credit Agricole” in the future. According to the general director of the bank, Stepan Gishyan, the French company paid 2,8 billion dram to purchase the stocks of ACBA bank. Due to the investments done by “Credit Agricole” company, the capacity of the founding capital of ACBA bank has been increased up to 10 billion dram. The head of the Armenian Central Bank says that the mentioned company may place a big role in the development of the Armenian banking system. According to the first banker of Armenia, this means that the Armenian banking system is attractable for foreign investors and it may support competition in the banking system.
