- I believe yes, since in bank business exact calculations play a very important role: our entire activity is built on planning, we have elaborated short-term, medium-term and long-term plans, due to which we manage to quite exactly plan our further steps and implement them. 

Besides exact calculation, I would like to also single out enthusiasm. Our achievements are also conditioned by the enthusiasm of the bank personnel. So, everything should be balanced: both exactness and emotions. 

15 years’ path of the bank was very complex and, at the same time, very interesting, and this, first of all, is conditioned by the specifics of our activity: direct connection with the agricultural sphere and the problems of marzes. 

- Our activity for the past 15 years was quite rich and intensive. 

Among the most remarkable events, I will single out the constituent assembly of 1995, as a result of which the bank was founded; the time when we received the license for banking activity; May of 1996, when we started providing our first credits; establishment of “ACBA-Leasing” in 2003.  

I would like to highlight the year of 2006, when French “Credit Agricole” Group became the shareholder of the bank. This event took the trust for our bank to a new level. 

During the entire path that we have gone, fortune smiled upon us: we had good partners and moved on according to the outlined plans. 

- This award was a pleasant surprise for me. Only two orders are conferred in France: “Order of Merit” and “Legion of Honor”, which, by the way, are very rarely conferred to citizens of foreign countries. 

I believe that this award was a result of the joint activity with Credit Agricole Group, realized in Armenia, and this is very pleasant and at the same time committing. 

In the context of Armenian-French friendship, our cooperation with Credit Agricole can be viewed as one of the successful examples. This award commits to taking our cooperation to a new level and it seems we manage to do that. 

- Despite the fact that last year was a crisis year in Armenia, just like in the entire world, nevertheless our country, per se, managed to avoid the financial crisis. Instead of that we witnessed the economic crisis. 

Anyways, the Armenian banks indirectly - through their customers, still felt the influence of the crisis. We, fortunately, managed to avoid serious losses. The fact that not a single bank closed in Armenia is already a good achievement. 

Concerning particularly our bank, we did not renounce our plans, we did not interrupt crediting for a minute, did not take the path of staff or salary reduction. As a result, we managed to secure profit as well.  

Naturally, the incomes of the bank made less than it was planned, but, taking into account the events of 2009, we registered good results. The crisis is not over yet, but I think that we have left the most difficult times behind. 

- We started maintenance of American Express cards and travel checks back in the beginning of the I quarter. We plan to initiate issue of cards already in October, 2010: this is a quite laborious process, which required quite significant resources. I believe that these efforts will be justified. 

- All our achievements are a result of our staff’s work, the high professional level of our employees. It is not by chance that we use “talent management” term instead of “human resource management”. Our employees are talented each in their own sphere. 

It is difficult to express with the use of words what the difference of the work atmosphere in our bank from other banks is. But it is definitely special. 

“ACBA-Credit Agricole Bank” is traditionally considered the bank with the youngest employee staff in the banking system of the country. When we were starting, the average age of the bank employees made 26-27 and this index is preserved so far. The average age of our employees does not exceed 30, and this takes place despite the fact that the “backbone” of specialists, who were with us from the moment of the bank’s establishment, continues its work. 

Along with broadening of our activity, we hire mainly graduates of higher educational institutions, and due to this inflow we manage to preserve the average age qualification of our employees. Today, the bank has about 900 employees. 

- Of course, the difficulties in our economy registered last year had their influence on the general economic situation, including the banking sphere. To be included in the list of 1000 best banks of the world has a symbolic meaning for us and is not a clearly fixed task, the solution of which can be planned for according to terms. In the period of the crisis, we witnessed bankruptcy of the largest world banks, so, in this context is it very difficult to build any forecasts. 

- We registered membership in the International Union of Agricultural Banks in 1996, and since 1998 I have been the Vice-President of this organization and have been taking an active part in its work. 

2-3 times a year we carry out meetings in various countries and this gives the opportunity to exchange advanced experience and knowledge in agricultural and financial spheres. Once in 2-3 years, the Union organizes international congresses, in which we also take an active part. Additional opportunity appears for us and for our customers to be aware of the latest developments in the sector and apply the best practice in Armenia. 

By the way I should note that our Armenian practice is also much demanded abroad. Very often we are asked to share our experience in financing agriculture in Armenia. In particular, our experience was presented at the Congress in Milan, organized for European countries, at the Congress of the World Bank in South African Johannesburg, as well as in Macedonia and Hungary. 

The experience of “ACBA-Credit Agricole Bank” was studied by authoritative organizations, such as IFAD and Harvard University.  

- We will celebrate the jubilee together with our employees, shareholders and customers. Since at present our bank is a backbone structure and has an influential role in the country’s economy, we intend to celebrate this day with the entire society, in the view of which we plan to organize an open air concert on the territory, adjacent to Cascade. 

Using the occasion, I would like to wish our customers, shareholders and all compatriots peace and financial wellbeing, and wish the employees of the bank – hard and at the same time interesting and pleasant work.