Tuesday, August 21 2012 16:05

ProCredit Bank replenishes statutory capital with 1 billion drams in August due to issue of shares


ArmInfo. At the supervisory board meeting of ProCredit Bank as of 17.07.2012, it was decided to replenish the statutory capital of the Bank by AMD 1,000,000,000. Now it sums AMD 7,490,000,000, the press-service of the bank told ArmInfo. The issue was registered at the Central Bank on August 9 2012.

The bank issued 1000 ordinary shares with a nominal value of 1 million drams. As a result, the shares of the shareholders have changed: ProCredit Holding AG - from 68.46% to 72.67%, EBRD - from 16.67% to 14.45%, KfW - from 14.87% to 12.88%.

After the above issue, the total capital of the bank grew from 5.226 bln drams on June 30 2012 to 6.021 billion drams on August 9. The bank's press-service told ArmInfo that no more issues are scheduled for the current year.

According to the Ranking of Armenian Banks prepared by ArmInfo, accumulated profit of ProCredit Bank totaled 1.3 bln drams as of July 1 2012, with the loss for the first half of 2012 totaling 197.6 mln drams (up 31.3%). The loss for Q2 2012 totaled 94.3 mln drams (8.8% improvement). Assets for July 1 2012 totaled 34.9 bln drams with a 29.4% growth versus the same period of 2011. The share of credit exposures in total assets was 80.8% or 28.2 bln drams with a 35% growth versus the first half of 2011 and 12% growth for Q2 2012. The share of SME finance in the total loan portfolio of the bank was nearly 83% (1st position) or 23,3 bln drams with a 20% growth for the first half of 2012.

ProCredit Bank Armenia entered the banking market in Feb 2008. It is specializing in SME finance guided by ProCredit Holding AG's credit policy.
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