Wednesday, June 30 2010 12:05

Central Bank of Armenia registers capital branch of ProCredit Bank


ArmInfo. "Moskovyan" capital branch of ProCredit Bank has been registered by June 29 decision of Armenian Central Bank chairman, CB press service told ArmInfo.

To note, "Moskovyan" branch earlier functioned as a head office of ProCredit Bank, and now it is situated in Teryan Str. 105/1.

To recall, ProCredit Bank currently has 8 branches in Armenia, including 5 in Yerevan, and one each in Vanadzor, Gyumri and Artashat. ProCredit Bank started its activity in Armenia on February 5, 2008. It is specialized in micro, small and medium financing. According to the data of Armenia's commercial banks, prepared by Agency of Rating Marketing Information (ArmInfo), the authorized capital of ProCredit Bank as of April 1, 2010 made up 6.090 bln drams ($15.2 mln), total capital - 5.4 bln drams ($13.6 mln), assets - 17.9 bln drams ($44.6 mln), credit portfolio - 13.5 bln drams ($33.7 mln), liabilities - 12.4 bln drams ($31 mln). The bank completed the 1st quarter of 2010 with net profit of 9 mln drams ($22.5 thsd). ProCredit Holding AG (68,46%), KfW German Bank (14,87%), as well as European Bank for Reconstruction and Development -16,67% are shareholders of ProCredit Bank.
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