Friday, May 18 2012 23:38

ProCreidt Bank expected to increase SME finance portfolio to $100 million in 2012


ArmInfo. ProCredit Bank plans to increase the SME finance portfolio to $100 million versus current $65 million, ProCredit Bank Executive Director Asmus Rotne said in response to ArmInfo's question in a press conference on Friday. The press conference was dedicated to presentation of a new system of consultants for business customers. He said that the SME finance portfolio will be as diversified as before to avoid accumulation of risks.

The system provides an individual consultant to every business customer. The consultant also represents the given business customer in the bank, he explained.

A. Rotne said the bank highly appreciates the relations with customers and does everything possible to provide high quality services. ProCredit Bank's goal is to retain its leading position in terms of SME finance in Armenia with reliable and high-quality service, convenient and effective banking services developed especially for the small and medium-sized enterprises. ProCredit Bank is committed to its mission and offers business entities in Armenia the best lending solutions, which helps enhancing the economic development in the country, Rotne said.

Speaking in a press conference on Friday Ambassador Extraordinary and Plenipotentiary of Germany to Armenia, H.E. Mr. Hans-Jochen Schmidt welcomed the activity of ProCredit bank in Armenia and said that ProCreidt Bank's work in Germany gave an opportunity to SME representatives to develop to the level commeasurable with such world known company as Bosch. Ranking of Armenian Banks prepared by ArmInfo Agency says the SME finance portfolio of ProCredit

Bank totaled 20.7 bln drams (nearly $53 mln) as of April 1 2012, with a 4% growth for Q1 2012. In 2011 the bank's portfolio grew 24.1% and 10.7% for Q4 2011. By the latest data, the share of SME in the bank's loan book is over 82%. General investments of the bank amounted to 25.2 bln drams ($64.4 mln) as of April 1 2012 with an annual growth of 29%. Nearly 44% of the bank's loan book is trade finance, over 20% are industrial loans, and over 13% - agricultural loans. ProCredit Bank entered the market in Feb 2008. ProCredit Holding AG holds a 68.46% stake in the bank, EBRD - 16.67% and German KfW Bank - 14.87%.
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