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՞ACBA Leasing՞ Credit Organization CJSC is the first registered specialized leasing company in RA, which was founded on March 30, 2003. Here is the background of the Company establishment.
Taking into account, that this type of financing had not been available up to that moment in Armenia, but which was considered to be an important investment lever directed to the productivity growth of the enterprises and modernization of the fixed assets, International Financial Cooperation IFC (IFC is a member of World Bank), carrying out market investigation for United Nations Organization, expressed its wish to join to the project aimed at affording opportunities for leasing operations in Armenia.
A thorough investigation was conducted which resulted in detection of Legislative System Alteration Necessity. IFC, appearing to take participation in Lebanon Leasing Organization Establishment, applies to US Agency for International Development (USAID) and in the spring of 2001 offered French Credit-Agricol Bank Holding to become a shareholder in Leasing Company Establishment Project in RA.
Preliminary investigation results made apparent the availability of a local qualified partner, who was to be the guarantee of the project success.”ACBA-CREDIT AGRICOL BANK” CJSC was jointly selected as the local partner, which had a potential and rich work experience for the implementation of leasing operations.
Due to the joint efforts made by the participants of this importest project on development of the Republic of Armenia, “ACBA Leasing” company was ready to launch its activity.
Credit Organization was provided with License N 4 on April 23, 2003 by RA CB, after which the organization started its activity.
Participating in the formation of the Lebanese Leasing Company (LLC), the International Financial Corporation (IFC) refers to the USAID and in the spring of 2001 offers the French Crédit-Agricole to become a shareholder in foundation of the first Armenian leasing company. In 2003 the company was licensed by the Central Bank of Armenia which launched its activity in the leasing sphere.
The first leasing agreement of agricultural machinery took place in 2004. The first line of trucks supplied by CHINVAN, which partners with ACBA Leasing until today, initiated the product branch. Later it became one of the most important leasing products of the company.
Leasing penetrated into state legislation requesting several adjustments in the legal framework which helped overcome several functional difficulties and enter brand-new economic areas. Most significant ones were the changes in the law "on VAT" and "on Profit Tax". The interest income from leasing, and the equipment unelligible for VAT on import, were freed from the VAT.
In 2006 Armenian Agricultural Cooperative Bank was reorganized into “ACBA-CREDIT AGRICOLE BANK” CJSC.
The International Finance Corporation (IFC) issued its shares of ACBA Leasing to ..., causing major changes in the Company's internal regulations and opening up new perspectives. IFC left the status of a shareholder in the Company, however we have continued intensive cooperation towar development.
This year was of particular significance as this is when the Company's employed capital showed double the size of starting capital while the world was undergoing a major financial crisis. This outcome was a huge success for a young Company. Such increase indicated extreme reliability and productivity of ACBA Leasing.
The Company starts partnering with the European Bank for Reconstruction and Development (EBRD) which began with signing of a €5.9 million contract.
In correspondance to internal legislative changes, the Company launched a new product, leasing for individuals. As a result, the demand increased drastically, engaging a brand-new group of clients.
On April of this year, the new ACBA Leasing head office opened in Piazza Grande business center.
ԱԳԲԱ Լիզինգը $7.5 միլլիոն արժողությամբ պայմանագիր է կնքում Ցեպպելին Արմենիա-ի, ներկայիս խոշորագույն մատակարարներից մեկի հետ։ Այն Հայաստանում վենդորային պայմանագրի առաջին փորձն էր։
After 10 years in the market, ACBA Leasing takes another step towards customer satisfaction. On December 25 the Central Bank of RA licensd the Company as an insurance agent. Cooperation with several insurace companes began. This step proved the Company's aptitude of providing maximum quality and efficiency in client service.
ACBA Leasing launched the Green Leasing subbrand which includes leases of energy-efficient equipment and transportation means. In 2014 the first subject to be leased in Green framework was a solar water-heating system, supplied by our current partner - Shtigen.
in 2015 ACBA Leasing employed client oriented strategy according to which defined the following target customer groups: physical entities, businesses, agro clients, and non-residents.
The Company leased the first Solar PV system and a similar project took place with Toufenkian Avandakan Yerevan hotel.
The state government and ACBA Leasing signed a contract of interest partial subsidization on leasing of agricultural machinery in the framework of corresponding governmental program. In this socially valuable initiative, the Company does not only provide a financial tool but also directly support the agricultural industries ov Armenia. On May 29 the first contract of this kind took place .
LAST UPDATE: 23.02.2018