ProCredit Bank opens branch in Gyumri

PanARMENIAN.Net - ProCredit Bank has opened the doors of its new branch in Gyumri This is already the 5th branch of ProCredit Bank. It was officially registered by the Central bank of Armenia on June 12, 2009. The branch is opened to support small and medium sized businesses, develop savings culture among people and provide high quality, affordable and transparent banking services.



ProCredit Bank was the first among the international banks in Armenia to open a branch in Vanadzor, Lori region in July, 2008. Expanding the branch network the Bank aims to be presented in all the communities and RA regions, this way developing the idea of "Neighborhood Bank" and offering smart banking services for each and everyone. On July 02, 2009, the Bank organized a special catering and invited representatives from the neighbor companies and the community, solemnly celebrating the branch opening in the framework of "Neighborhood Bank" event.



"We believe that our new branch will contribute our mite in the development of Gyumri city and overall Shirak region economy. Our business is tailored to support small and medium sized businesses and we expect long term relationship. Welcome to the new ProCredit Bank Gyumri Branch,"  said Mr. Bertolt Hertzfeldt, Executive Director of ProCredit Bank.



On December 7, 2007 ProCredit Bank was licensed by the Central Bank of the Republic of Armenia (License N 85) and opened for clients on February 5, 2008.



ProCredit bank is a development-oriented full service bank focusing on lending to very small, small, and medium-sized enterprises.



The Shareholders of ProCredit Bank in Armenia are:

- ProCredit Holding - with 67.49% of shares

- EBRD - with 16.67% of shares and

- KfW - with 15.84% of shares



ProCredit Bank Armenia is a member of ProCredit Group. ProCredit Group consists of 22 banks operating in Eastern Europe, Africa and Latin America, which are led and supervised by ProCredit Holding AG, based in Frankfurt am Main, Germany.