News & Events

03/05/10, ACRA Press Service
The Annual General Meeting of Shareholders of "ACRA Credit Reporting" CJSC will take place on 4th of June 2010 at 3:00 o'clock p.m. in the Union of Banks of Armenia, 19a Koryun Str., Yerevan.

15/12/09, ACRA Press Service
The Board Meeting of "ACRA Credit Reporting" CJSC will take place on 25th of December 2009 at 4:00 o'clock p.m. in Central Bank of RA, 6 Vazgen Sargsyan str., Yerevan.

10/12/09, ACRA Press Service
The Annual General Meeting of "ACRA Credit Reporting" CJSC shareholders will take place on 21th of December 2009 at 3:00 o'clock p.m. in Central Bank of RA, 6 Vazgen Sargsyan str., Yerevan.

02/07/08, Mediamax News Agency
Armenian ACRA Credit Reporting Credit Bureau is leading as to information coverage among CIS states
At present, credit histories of 735 thousand creditors are present in the database of ACRA Credit Bureau, Chairman of the Central Bank of Armenia, Chairman of the Board of ACRA Artur Javadyan stated.
Mediamax reports that Artur Javadyan said this on June 27 at the general annual meeting of ACRA Credit Reporting CJSC shareholders.
According to Artur Javadyan, the present annual meeting of ACRA Credit Bureau is marked with the fact that all commercial banks of Armenia and 10 credit organizations are already cooperating with the Bureau.
“ACRA will assist the increase of the level of financial mediation in Armenia, and the financial organizations will be able to make decisions significantly quicker on providing credits”, Artur Javadyan stated.
Director of ACRA Credit Bureau Artak Arzoyan noted that the information coverage of the Credit Bureau targeted for mature population of Armenia by the end of 2007 made 24%, and at present, ACRA already owns the credit histories of 33% of the mature population of Armenia, which is commensurable with international standards and is the best index among the CIS states.
In the first quarter of 2008, the incomes of the Bureau from sale of credit histories made 49mln drams.
Talking about the further development plans, Artak Arzoyan pointed out the elaboration of new programs, among which the analysis of credit portfolios, credit scoring and monitoring of borrowers. ACRA’s plans also include attracting new sources of information (companies, involved in communal-general services, insurance companies, road police, courts, etc.), technical and program re-equipment of the system, implementation of international standards of corporate management and deepening cooperation with the Financial Sector Development Program of the U.S. Agency for International Development (USAID-FSDP).
ACRA Credit Bureau was set up in 2004 and is the only private credit bureau in Armenia. The Bureau cooperates with all commercial banks of Armenia and 10 credit organizations.
The shareholders of the Credit Bureau are 17 commercial banks of Armenia and 1 credit organizations, which own 52.92% of the shares, Credential Inc. (13.03%), Armenian CB (10%), Smart Tech CJSC (8,99%), Dun & Bradstreet Company (2.52%) and other shareholders.

06/06/08, ACRA Press Service
The Annual General Meeting of "ACRA Credit Reporting" CJSC shareholders will take place on 27th of June 2008 at 5:30 o'clock p.m. in Central Bank of RA, 6 Vazgen Sargsyan str., Yerevan.

21/05/08, ACRA Press Service
In connection with the appointment of Mr. Tigran Sargisyan (the Chariman of the Central Bank of RA) as the Prime Minister of RA, Mr. Arthur Javadyan (the Deputy Chairman of the Central Bank of RA) was appointed as the Chairman of the Board of “ACRA Credit Reporting” CJSC.

08/04/08, ACRA Press Service
Dear partners we inform you that "ACRA Credit Reporting" CJSC has signed a contract with "Byblos Bank Armenia" CJSC. Soon the data base will replenish with details of "Byblos Bank Armenia" CJSC.
Thus all the banks of RA are the member companies of "ACRA Credit Reporting" CJSC.

12/02/08, ACRA Press Service
"ACRA Credit Reporting" CJSC has signed a contract with "ProCredit Bank" CJSC.

12/02/08, ACRA Press Service
"ACRA Credit Reporting" CJSC has signed a contract with "ArdShinInvestBank" CJSC.

07/02/08, Mediamax News Agency
Armenian government approved the draft law "On activity of credit bureaus and circulation of credit information"
Armenian government approved today the draft law "On activity of credit bureaus and circulation of credit information".
As Mediamax was told in the press service of the government, the given draft law aims at establishing legal bases for the activity of credit bureaus, as well as the regulation of credit information collection and preparation of credit reports.
In connection with the approval of the draft law, the Cabinet of Ministers also decided to make changes in the laws “On banking secrecy”, “On insurance and insurance activity”, “On the Central Bank” and a number of other laws. All the draft laws will be presented to the National Assembly of Armenia in accordance with the established order.
As the Chairman of the Central Bank of Armenia Tigran Sarkisian stated during the session of the government, according to the agreements, reached earlier, the draft law “On activity of credit bureaus and circulation of credit information” will be discussed in the course of two days with the State Tax Service, the State Committee of Cadastre on Real Estate Property and the Ministry of Labor and Social Affairs.

01/02/08, ACRA Press Service
"ACRA Credit Reporting" CJSC has signed a contract with "Malatia" Universal Credit Organization Ltd.

17/12/07, ACRA Press Service
An Extraordinary General Meeting of "ACRA Credit Reporting" CJSC shareholders will take place on 21st of December 2007 at 5 o'clock p.m. in 48 Mamikonyants str., Yerevan, RA.

04/10/07, ACRA Press Service
"ACRA Credit Reporting" CJSC has signed a contract with ""Cascade Credit" universal credit organization".

21/09/07, ACRA Press Service
"ACRA Credit Reporting" CJSC has signed a contract with ""SEF International" Universal credit organization".

06/06/07, ACRA Press Service
The Annual General Meeting of "ACRA Credit Reporting" CJSC shareholders will take place on 29th of June 2007 at 6 o'clock p.m. in 48 Mamikonyants str., Yerevan, RA.

21/09/07, ACRA Press Service
"ACRA Credit Reporting" CJSC has sighned a contract with ""Sef International" Universal credit organization".

06/06/07, ACRA Press Service
The Annual General Meeting of "ACRA Credit Reporting" CJSC shareholders will take place on 29th of June 2007 at 6 o'clock p.m. in 48 Mamikonyants str., Yerevan, RA.

02/04/07, ACRA Press Service
In 2-April ACRA Credit Bureau celebrated the start of its services together with 4-th anniversary of Credit Registry operated by Central Bank. Among presentees were representatives of banks and credit organizations, the chairman of Central Bank Mr. Tigran Sargsyan, Board Member of Central Bank Mrs. Karine Minasyan, the Head of Statistics Department of CBA, the staff of Credit Registry of CBA.
ACRA's database already contains data on 500 thousand loans and credits (including closed contracts) and about 200 thousand debtors. Initial data collection process is still in process and is intended to finish in the near future.
The main institutional shareholders of ACRA are the Central Bank of RA, commercial banks registered in RA and Dun & Bradstreet Int.. Existing shareholding structure warrants fast development of the Credit Bureau and the quality of services. ACRA's development strategy involves soon adoption of credit scoring services, which will significantly improve the crediting process. Central Bank of RA has also undertaken development of special law which will regulate the activities of credit bureaus operating in Armenia and prescribe the necessary quality standards.

23/03/07, ACRA Press Service
Taking into account large number of data (about 500 thousand extinguished and being credits) ACRA Board of directors made a decision to make services payable started from the first of April.
The banks and credit organizations, which have signed contract with ACRA Credit Reporting from the first of April must pay for the inquiries according to the approved price-list.

30/08/06, ACRA Press Service
ARMENIAN BANKS HAVE BOUGHT CONTROLLING SHARE IN EQUITY OF ACRA CREDIT BUREAU.
As a result of lengthy negotiations with the Union of Banks of Armenia, eleven Armenian banks (ACBA, Anelik Bank, ArmSwissBank, Armenian Development Bank, ArtsakhBank, BTA InvestBank, HSBC Armenia, InecoBank, Melat Bank, Prometei Bank, VTB Bank - Armenia) jointly have bought 50.1% of shares in the equity ACRA Credit Reporting CJSC. Earlier Converse Bank (in June 2005) and ArmEconomBank (in May 2006) became shareholders of ACRA each owning 1% of ACRA’s equity. Thus, currently more than 52% of the ACRA’s capital is owned by the Armenian banks.
ACRA credit bureau was set-up in 2004 by Credential Inc. (USA) and with the assistance and involvement of Dun & Bradstreet International become operational in September 2005. As of today 14 of 21 Armenian banks, i.e. the banks representing 76 % of banking assets and 75% all the loans in banking sector, have become either ACRA’s shareholders or its members. In addition, 7 largest credit organizations (Aregak, Finka, First Mortrage Company, Cascade Credit, Nor Horizon, SEF International, , Washington Capital) and 2 microfinance organizations (Kamurj, Aniv ) working in Armenia are also the members of ACRA.
According to the preliminary agreement with the Central Bank of Armenia and Union of Banks of Armenia, it is expected that the Central Bank will become one of the largest shareholders of ACRA in the nearest future as well.

06/04/06, ACRA Press Service
Dear visitors of ACRA Credit Bureau web site,
Please be informed that from now on you are given a chance to get acquainted with the different aspects of crediting in Armenia from ACRA’s web site. If you are interested in getting financed and you don’t know what credit product to apply for and where, you entered the right web site to find answers to all your questions. Here you can find information about types of credit products, contacts and general information about all crediting organizations operating in RA, all the procedures taking place during the crediting process and much more.