ProCredit Bank in Armenia marks first year of its<br /> activities<br />


ProCredit Bank in Armenia marks first year of its
activities

  • 05-02-2009 18:00:00   | Armenia  |  Economy
YEREVAN, FEBRUARY 5, NOYAN TAPAN. ProCredit Bank in Armenia marked the first year of its activities on February 5. Since February of last year, the number of its customers has increased to more than 4,000, including users of savings services. Its credit portfolio amounts to 24 million USD. Small credits of up to 10 thousand USD make up 90% of the business credit portfolio. According to the bank's report, the total amount of sums attracted from customers in the past 12 months made 9.3 mln USD, while the total number of bank accounts of customers has reached 6.7 thousand. Most of the money of customers has been attracted in savings and deposit accounts, 80% of which are small sums of less than 1,000 USD. In 2008 the bank opened 5 new branches: 4 in Yerevan and one in Vanadzor. Another 7 branches will open this year. The activities of ProCredit Bank in Armenia with 100% foreign capital are aimed at crediting small and medium entrepreneurship. The bank is a member of ProCredit group composed of 22 financial structures in Eastern Europe, Africa and Latin America. Their activities are managed and controlled by ProCredit Holding AG in Frankfort (Germany). The founders of ProCredit Bank in Armenia are ProCredit Holding (67.49% share), KfW Bank (15.84%) and the EBRD (16.67%).
  -   Economy