Acba bank and Proparco, a subsidiary of the Agence française de développement group (AFD), celebrate the first anniversary of their cooperation. One year ago, Proparco became a shareholder of Acba bank by acquiring a 10% stake. This strategic investment has reinforced Acba’s capital base, enabling the bank to strengthen its leadership in agricultural financing and to further establish itself as a systemic financial institution in the country.
Founded as a rural cooperative bank to empower Armenian farmers, Acba has grown into a universal banking institution with a widespread presence and leading digital services.
As a leading financial institution in Armenia’s, Acba holds significant potential to drive improvements in climate practices, positioning itself as a key player in reducing greenhouse gas emissions and enhancing climate resilience. Acba’s positioning aligns closely with Proparco’s commitment to strengthening key economic players in fragile environments. This operation is a continuation of Proparco’s support started in 2020 with a 20 MUSD debt financing, and it aims at solidifying Acba’s resilience as it plays a pivotal role in Armenia’s real economy.
“We stand at the beginning of a long story that has already proven successful. This partnership strengthens Armenian–French relations. The bank has deep ties with France, which is systemically important for the financial market. This partnership connects Armenia’s banking sector to European standards. Acba is a bank of innovation, opening new opportunities for Armenia to the world,” noted Olivier Decottignies, Ambassador of France to Armenia.
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“Proparco’s acquisition of 10% of Acba bank is not merely a financial investment. It is a vote of confidence in Acba’s strategy, its governance, and the bank’s ability to play a significant role in Armenia’s development. Acba is entering a new strategic cycle, and at the core of this long-term vision stands trust. Our goal is to be not only a strong financial institution, but one of the most reliable organizations in Armenia — a bank that embodies European standards, Armenian values, and a deep sense of responsibility toward society,” noted Rafael Sargsyan, Chairman of Acba bank’s Board of Directors.
“Acba has extensive experience working with international organizations. This experience has given us not only financial opportunities, but also new qualities, new standards — shaping us into who we are today. I believe that our cooperation with Proparco has already opened new horizons for us. I am proud that within Proparco’s large family of partners, Acba has its own distinguished place. I would also like to thank the French Government, represented by His Excellency the Ambassador,” noted Hakob Andreasyan, CEO of Acba bank.
“As we celebrate the first anniversary of our investment in Acba bank, we are pleased to reaffirm the importance of this partnership. Through our investment in Acba, we are supporting a systemic bank that plays a crucial role in Armenia’s rural economy while contributing to the broader economic stability of a country navigating significant challenges. This initiative aligns with Proparco’s mission to bolster financial institutions in fragile contexts, ensuring they remain resilient, well-managed, and capable of driving sustainable development.”
— Stéphane Froissardey, Deputy Global Head of Private Equity, Proparco
“The Central Bank welcomes – and is truly pleased – that reputable international organizations participate in Armenia’s financial system. By becoming a public company and through its cooperation with Proparco, Acba clearly positions itself as a bank focused on long-term, sustainable development. Acba stands out in the best possible way – it is among the strongest banks in the country,” noted Hovhannes Khachatryan, Deputy Governor of the Central Bank of Armenia.
Acba bank is supervised by the Central Bank of Armenia.
Contacts (Proparco): [email protected], [email protected] (Acba bank)
About
Proparco is a subsidiary of the Agence française de développement group (AFD), and has been working alongside private-sector players for over 45 years, in favour of a fairer and more sustainable world. With an international network of 23 local offices, Proparco works closely with its partners in order to build sustainable solutions to environmental and social challenges in Africa, the Middle East, Asia and Latin America. Proparco has sector-specific expertise, a diversified range of financial tools adapted to the different stages of a company’s development, notably through its subsidiary Digital Africa, and a technical support offer, Propulse, to leverage the impact and performance of its partners.
With its new 2023-2027 strategy “Acting together for greater impact”, Proparco is exploring, strengthening and amplifying its modes of intervention with its partners. Find out more: https://www.proparco.fr/fr/strategie.
For more information: http://www.proparco.fr | @Proparco | LinkedIn
Acba bank is one of the leading financiers of Armenia’s economy and the absolute leader in financing the country’s agricultural sector. The bank continuously expands and enhances the scope and quality of its financial services, contributing to Armenia’s economic stability and development. Acba bank is the founder and 100% shareholder of Acba Leasing, the first leasing company in Armenia, and, together with Amundi, Europe’s leading asset manager, has established Amundi-Acba Asset Management in Armenia. Acba bank operates across all regions of Armenia with 66 branches and has more than 5,000 shareholders.
For more information: https://www.acba.am/en/ Linkedin
