ProCredit Bank looks forward to strong development in 2010

ProCredit Bank looks forward to strong development in 2010
February 9, 2010 - 17:54 AMT

PanARMENIAN.Net -
On February 5, 2010 ProCredit Bank celebrated its 2nd anniversary. As Bertolt Hertzfeldt, Executive Director of ProCredit Bank emphasized, “ProCredit Bank offers banking services not only to small and medium sized businesses but also for all people, who live and work in the neighbourhood of the Bank. We provide transparent and fair conditions to our customers. We see team work as a key in delivering excellent service to our clients and want to thank our customers for the trust they put in us. We are proud that we have achieved such good results in a short period of time and look forward to a strong development in 2010”.



ProCredit Bank welcomed its first customers on February 05, 2008, aiming to offer reasonable products for everyone. ProCredit Bank is a full-fledged bank with a 100% foreign capital, focused on the development of small and medium sized enterprises and offering a full scale of banking services to private individuals and legal entities. Another important area of ProCredit Bank’s focus is to promote savings culture among the population, by starting even from small amounts.



ProCredit Bank in Armenia is part of the ProCredit group, consisting of 22 financial institutions operating in Eastern Europe, Africa and Latin America, which are governed by ProCredit Holding AG located in Frankfurt am Main, Germany.



Founders of ProCredit Bank are such well-known international organizations as: ProCredit Holding AG - 67.50% shares, EBRD - 16.67% shares, KfW - 15.83 % shares.



The bank’s shareholders shared the vision of a business model which aims at responsible banking that seeks transparency, efficiency and long term profitability and makes an impact on the development of the country.



Over these two years ProCredit Bank established itself as a responsible, easy-to-understand and transparent financial institution. Since its start it welcomed more than 9,700 clients including non-loan clients and has an outstanding loan portfolio of about USD 32.4 mln. and deposit portfolio around USD 18.3 mln.

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