ProCredit Bank Armenia opens its 5th branch in country
20-01-2009 17:00:00 | Armenia | Economy
YEREVAN, JANUARY 20, NOYAN TAPAN. ProCredit Bank has opened
its new - 5th branch located at the Citadel Business Center, 1st
floor (105/1 Terian Street, Yerevan). The first branch of the
bank opened in the city of Vanadzor (Lori marz) in July 2008.
ProCredit Bank Armenia started operating on February 5,
2008. It is a bank with 100% foreign capital and provides a
comprehensive package of banking and financial services. Its
activities are aimed at crediting small and medium business.
Another direction of ProCredit Bank's activities is to
contribute to the formation of savings culture in the society.
ProCredit Bank Armenia is a member of ProCredit group which
is composed of 22 financial structures operating in Eastern
Europe, Africa and Latin America whose activities are headed and
controlled by Frankfurt-based ProCredit Holding AG.
The founders of ProCredit Bank Armenia are ProCredit
Holding AG that owns 67.49% of shares, KfW Bank (Germany) with
15.84% of shares and the European Bank for Reconstruction and
Developemnt (EBRD) with 16.67% of shares.
ProCredit Bank Armenia currently has over 4 thousand
customers, including users of savings services, as well as a
credit portfolio of about 24 million USD and a deposit portfolio
of more than 8 million USD.