Armenia’s ACBA-Credit Agricole Bank has signed a deal with the International Finance Corporation (IFC) to manage its currency and interest rate risks, The Financial reports. IFC will offer U.S. dollar interest rate swaps and foreign currency swaps to the bank.
The master contract will allow the bank to reduce its interest rate risks on borrowed funds and currency risks for its euro deposit base. The deal will also enable the bank to offer a wider range of deposit products to customers.
Click here for the story from The Financial.