Tuesday, April 3 2012 18:57

ProCredit Bank expanding branch network


ArmInfo. Central Bank of Armenia registered a new branch in Yerevan - "Davidashen" on March 30, the CB press-service told ArmInfo.

ProCredit Bank reports that as of Jan 1 2012 the bank serves 11 branches, including 8 in Yerevan and 3 in the regions (Vanadzor, Gyumri and Artashat).

Earlier ProCredit Bank told ArmInfo that among technical changes the bank studies expansion of the branch network, first of all, in Yerevan and in the nearby towns.

According to the Ranking of Armenian Commercial Banks prepared by ArmInfo total capital of ProCredit Bank as of Jan 1 2012 totaled $14.1 million, assets - $78.4 million. In the structure of assets, the share of lending totaled 82.6% or $64.8 million. Bank is specializing in SME lending by placing 83% of its portfolio (nearly 20 billion drams) of the loan portfolio with annual 24% growth. ProCredit Bank's shareholders are ProCredit Holding AG with 68.46%. EBRD with 16.67%, German KfW with 14.87%.
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