Acba Bank is marking its 30th anniversary, saying its business began with a belief in the value created by farmers and in their work. The bank says mutual trust has been central to its model since the early years and remains one of the pillars of its values today.
Starting out with limited financial and technical resources, the bank has grown into one of Armenia’s systemic banks and a leader in the sector. Acba says it continues to expand its services while linking that growth to the country’s economic progress and the development of local communities.
Chief Executive Officer Hakob Andreasyan said the bank’s impact should be measured not only by financial indicators but also by its development programmes. According to him, the bank has contributed to more balanced community development in Armenia, improvements in social conditions, the creation of infrastructure, and the implementation of environmental, healthcare, education and cultural projects.
Chair of the board Sona Ishkhanyan said Acba Bank’s journey began in Armenia’s fields and communities, with its founders and first employees going where others often hesitated to go. Deputy Chairman of the Central Bank of Armenia Armen Nurbekyan said Acba has been a pioneer in many areas and has built a long record of cooperation with international organisations.
Acba now has around 1,900 employees and 64 branches across all regions of Armenia. The bank says it is the country’s absolute leader by number of POS terminals and by the volume of issued bank cards, with more than 1 million active cards, while the number of users of the acba digital system stands at about 750,000. According to the bank, around 90% of transactions are now carried out through digital channels thanks to continuous investment in new technologies, and the number of shareholders exceeds 5,000.
