Thursday, February 17 2011 19:25
ProCredit Bank intends to increase its credit portfolio by 60% in 2011
ArmInfo. ProCredit Bank (Armenia) is going to increase its credit and deposit portfolios by 60% and 40% respectively in 2011, Executive Director of ProCredit Bank Bertold Hertzfeldt told ArmInfo correspondent. He said that the growth will be ensured due to the bank's own clientele base (12 thsd customers), among them many medium entrepreneurs trusting the bank.
According to Bertold Hertzfeldt, in 2010 the bank managed to rise from the 18th position to the 15th one by the amount of credit portfolio (interbank credits and deposits exclusive) with the following indices: the bank's credit portfolio grew by 55% to $51.6 mln, and the deposit portfolio - by 38% to $25 mln.
The banker pointed out that as of 1 Jan 2011 the total capital of the bank amounted to $15.8 mln, assets - $68.2 mln mostly focused on provision of crediting (75.6%). "The bank is not yet going to increase the capital, as it is successfully developing on the basis of the current capital, and this is still enough to ensure further growth", he stressed. Meanwhile, in 2010 the bank operated at a loss - almost by $200 thsd. The bank is expecting to operate with profit in 2011, as it is going to expand the range of its services and products.
ProCredit Bank Armenia is part of ProCredit Holding AG, established in 1998 by IPC as Internationale Micro Investitionen AG and renamed into ProCredit Holding in Jan 2005. The holding owns 62% stake in ProCredit Group. The shareholders of ProCredit Bank Armenia are ProCredit Holding, EBRD and KfW - 68.45%, 16.67% and 14.87%, respectively.
