ProCredit Bank makes surprise offer to its customers - Holiday Deposit

ArmInfo. Forward to New Year holiday ProCredit Bank makes a surprise offer to customers. Starting from December 22, the Bank offers new "Holiday deposit", the Bank's press-service told ArmInfo. This deposit type is designed for those clients who want to earn some profit in short terms if they have some amount of money. The deposit is invested in AMD for 1, 2 or 3 months term with 16, 17 and 18 annual interest rate accordingly.

ProCredit Bank always strives to promote savings culture. Thus the bank has designed a transparent savings service with beneficial interest rate. It should be noted that the highest interest on long-term deposits in the Armenia's banking market before the ProCredit's Banks Holiday Deposit was 14-14.5. The interests on short-term deposits of Armenian banks are incomparable to the ones of ProCredit Bank. According to ArmInfo's Financial Rating of Armenian Banks, ProCredit Bank's portfolio of time deposits totaled 14.3 bln drams on 1 October 2014, including over 90 personal deposits. The above new offer of ProCredit Bank will help it boost the growth rates of its portfolio of deposits and improve its position in the banking market to come close to the top ten banks by the time deposits. ProCredit Bank began its operations in Armenia on 5 February 2008 and is part of the international ProCredit group, which is led by ProCredit Holding based in Germany and operates in 11 banks in Eastern Europe and institutions in Latin America as well as in Germany. Both ProCredit Holding and ProCredit Bank Germany are supervised by the German Financial Supervisory Authority (BaFin), which underscores the reliability and stability of the ProCredit institutions. ProCredit Bank Armenia is a fully-fledged bank with 100 foreign capital, focused on the development of small and medium-sized enterprises, as well as on the promotion of a savings culture among the population. As of 1 October 2014, the capital of the bank totaled 9 bln drams, assets - 57.2 bln drams, loans - 47.7 bln drams. Net profits of the bank for 9 months of 2014 totaled 330 million drams.