Tuesday, February 3 2015 14:34

ProCredit Bank registers stable and balanced development in 2014


ArmInfo. In 2014, market developments created many challenges, which ProCredit Bank Armenia, staying loyal to its principles, overcame.

Head of Budgeting, Controlling and Reporting Unit Gor Gabuzyan said: "Since 2008, ProCredit Bank has followed a policy of establishing long-term and stable relationships with its clients. As a result of this, the bank broke even and in 2013 it recorded its first annual profit, AMD 22 million. In 2014, this had grown to AMD 502 million, which represents a capital profitability of 5.7%. These results are due to ProCredit's stable and balanced development, which means that both clients and international investors trust the bank. This trust is evidenced by the fact that in 2014 ProCredit Holding, the bank's parent company, provided the bank with a subsidiary loan of USD 7.5 million in order to reinforce the bank's stability and growth".

At the end of 2014, the bank's total capital amounted to AMD 11.8 billion, which is in compliance with the requirements set by the Armenian central bank.

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.
POST A COMMENT
Input digits     


News
Aluminum foil exports  decreased in Armenia while maintaining their  customs valueAluminum foil exports  decreased in Armenia while maintaining their  customs value
Armenian Customs Service: Gold trade decreased significantly in the  first half of 2025Armenian Customs Service: Gold trade decreased significantly in the  first half of 2025
Armenia`s diamond trade decreased  by almost 50% in the first half of  2025Armenia`s diamond trade decreased  by almost 50% in the first half of  2025
Arsen Torosyan: 420,000 citizens to benefit from pensioner cashback  program by the end of next yearArsen Torosyan: 420,000 citizens to benefit from pensioner cashback  program by the end of next year
State Revenue Committee,  EBRD, and Grant Thornton Armenia launch  skills development program for refugeesState Revenue Committee,  EBRD, and Grant Thornton Armenia launch  skills development program for refugees
GIZ  entrusted with implementation of programs worth ?15.6 million as  part of Armenia`s technical cooperation with Germany GIZ  entrusted with implementation of programs worth ?15.6 million as  part of Armenia`s technical cooperation with Germany
Social Ministry`s program budget to be increased by 9.6% in 2026Social Ministry`s program budget to be increased by 9.6% in 2026
Armenia extending ban on export of ferrous and non-ferrous metal  scrap and waste until August 2, 2026Armenia extending ban on export of ferrous and non-ferrous metal  scrap and waste until August 2, 2026
IMF: Armenia- Azerbaijan improving relations to facilitate greater  regional cooperation and integrationIMF: Armenia- Azerbaijan improving relations to facilitate greater  regional cooperation and integration
Armenian government to support procurement process of Voskehat and  Areni grapesArmenian government to support procurement process of Voskehat and  Areni grapes
Armenia to get $250 million loan from  ADB to address housing needs  of internally displaced persons from Nagorno-KarabakhArmenia to get $250 million loan from  ADB to address housing needs  of internally displaced persons from Nagorno-Karabakh
New bridgework near Armavir - South Caucasus Railway New bridgework near Armavir - South Caucasus Railway 
EU to allocate EUR 5mln for enhancing Armenia`s nuclear safety and  radiation protection EU to allocate EUR 5mln for enhancing Armenia`s nuclear safety and  radiation protection 
Armenia`s Ministry of Finance proposes tax benefits for  government-funded programs Armenia`s Ministry of Finance proposes tax benefits for  government-funded programs 
Armenia, Argentina discuss prospects for joint technology projects Armenia, Argentina discuss prospects for joint technology projects 
Construction of 32-km-long section of Kajaran-Agarak highway must  meet high quality standards - official Construction of 32-km-long section of Kajaran-Agarak highway must  meet high quality standards - official 
Armenia attaches importance to continued cooperation with EIB in  implementing major infrastructure programs and  private sector  developmentArmenia attaches importance to continued cooperation with EIB in  implementing major infrastructure programs and  private sector  development
Tashir Capital will once again appeal to Public Services Regulatory  Commission on October 30th, demanding reduction in electricity  tariffs for populationTashir Capital will once again appeal to Public Services Regulatory  Commission on October 30th, demanding reduction in electricity  tariffs for population
Fourth meeting of EU-Armenia Investment Coordination Platform held in  YerevanFourth meeting of EU-Armenia Investment Coordination Platform held in  Yerevan
ENA former management  proposed reducing electricity tariffs to  Public Services Regulatory Commission, but the proposal was denied -  David GhazinyanENA former management  proposed reducing electricity tariffs to  Public Services Regulatory Commission, but the proposal was denied -  David Ghazinyan
Armenian-German intergovernmental talks starting in BerlinArmenian-German intergovernmental talks starting in Berlin
Connected, Convenient, Converse: Andranik Grigoryan Presents Converse Bank’s Digital Transformation Journey at the BACEE ConferenceConnected, Convenient, Converse: Andranik Grigoryan Presents Converse Bank’s Digital Transformation Journey at the BACEE Conference
In 2024, Armenia exported 48 million liters of bottled brandyIn 2024, Armenia exported 48 million liters of bottled brandy
In the first eight months of 2025, Armenia`s exports to Germany  exceeded the volume from 2024 - Economy MinisterIn the first eight months of 2025, Armenia`s exports to Germany  exceeded the volume from 2024 - Economy Minister
VWFA discusses opportunities to export Armenian wine to JapanVWFA discusses opportunities to export Armenian wine to Japan
Armenia`s 1,000 major taxpayers: trade sector has lion`s shareArmenia`s 1,000 major taxpayers: trade sector has lion`s share
RA State Control Service`s budget to be increased next yearRA State Control Service`s budget to be increased next year
More funds for RA premier`s staff, less for RA presidentia, staff, NA  in 2026More funds for RA premier`s staff, less for RA presidentia, staff, NA  in 2026
ArmSwissBank wins Ipra Golden World Award 2025 in climate change and literacy categoryArmSwissBank wins Ipra Golden World Award 2025 in climate change and literacy category
Underwater cable across Black Sea awaiting European Commission`s  approval Underwater cable across Black Sea awaiting European Commission`s  approval 
Medium-term funding of professional research on certain bills  possible - minister  Medium-term funding of professional research on certain bills  possible - minister 
Public Services Regulatory Commission declined proposal to lower  electricity supply prices - Our Movement coordinator Public Services Regulatory Commission declined proposal to lower  electricity supply prices - Our Movement coordinator 
ANC vice-chairman releases new program proposalANC vice-chairman releases new program proposal
Condominium management rules to be modified in ArmeniaCondominium management rules to be modified in Armenia
Armenian Conference Interpreters Association: A Reliable Platform for Professional CollaborationArmenian Conference Interpreters Association: A Reliable Platform for Professional Collaboration
IDBank - Silver Sponsor of BACEE’s 50th Jubilee International Banking ConferenceIDBank - Silver Sponsor of BACEE’s 50th Jubilee International Banking Conference
Armenia named Europe`s Leading Heritage Destination 2025Armenia named Europe`s Leading Heritage Destination 2025
In 2026, 74.5 billion drams to be allocated  for  Economy Ministry`s   projectsIn 2026, 74.5 billion drams to be allocated  for  Economy Ministry`s   projects
RA Economy Ministry expects GDP per capita to exceed $9,000 by year  endRA Economy Ministry expects GDP per capita to exceed $9,000 by year  end
Khudatyan: Armenia currently discussing subsidy program for  construction of storage plants  Khudatyan: Armenia currently discussing subsidy program for  construction of storage plants 
With complete unblocking of communications, at least two land roads  to open between Armenia and Russia - Economy Minister With complete unblocking of communications, at least two land roads  to open between Armenia and Russia - Economy Minister 
Preparatory work to design new nuclear power unti to get underway  next year - minister Preparatory work to design new nuclear power unti to get underway  next year - minister 
RA State Revenue Committee to get AMD 23bln more next year RA State Revenue Committee to get AMD 23bln more next year 
Construction of 34-km-long- section of Ashtarak-Talin highway to be  completed this year - minister Construction of 34-km-long- section of Ashtarak-Talin highway to be  completed this year - minister 
GDP growth to exceed target by the end of 2025 - minister GDP growth to exceed target by the end of 2025 - minister 
Armenian authorities want more AI experts Armenian authorities want more AI experts 
With the support of IDBank and Idram, the “Symphonic Forest” project was launchedWith the support of IDBank and Idram, the “Symphonic Forest” project was launched
RA Ministry of High-Tech Industry to get AMD 31.2bln next yearRA Ministry of High-Tech Industry to get AMD 31.2bln next year
Armenia`s banking system increased state treasury payments by 28% in  the first nine months, reaching $343 millionArmenia`s banking system increased state treasury payments by 28% in  the first nine months, reaching $343 million
Deputy Finance Minister: Declaration System  not failedDeputy Finance Minister: Declaration System  not failed
Central Bank on  2026 budget: Fiscal consolidation, investments, and  risk managementCentral Bank on  2026 budget: Fiscal consolidation, investments, and  risk management
Economy Minister: Armenia`s trade turnover with EU countries totaled  $2.9 billion in January-September 2025Economy Minister: Armenia`s trade turnover with EU countries totaled  $2.9 billion in January-September 2025
Pay at cafés and bars with Idram&IDBank and earn lots of idcoinsPay at cafés and bars with Idram&IDBank and earn lots of idcoins
EU  assisting Armenia in rebranding Armenian cognac- Economy Minister EU  assisting Armenia in rebranding Armenian cognac- Economy Minister 
Armenia`s telecom operators paid $80.4 million to  state budget in  first nine months of 2025 Armenia`s telecom operators paid $80.4 million to  state budget in  first nine months of 2025
Starting January 1, 2026, all Armenian citizens, not just pensioners,  will be eligible to receive cashback - Ministry of FinanceStarting January 1, 2026, all Armenian citizens, not just pensioners,  will be eligible to receive cashback - Ministry of Finance
Russian Federation`s restrictions on EAEU citizens` stay in Russia  contradicts provisions outlined in Treaty on  Eurasian Economic Union  - Minister Russian Federation`s restrictions on EAEU citizens` stay in Russia  contradicts provisions outlined in Treaty on  Eurasian Economic Union  - Minister
Ardshinbank— Armenia’s No. 1 Taxpayer in Direct Taxes AgainArdshinbank— Armenia’s No. 1 Taxpayer in Direct Taxes Again
Slowdown in industrial sector  leading to deceleration in  industrial  price index growthSlowdown in industrial sector  leading to deceleration in  industrial  price index growth
Foreign debt`s share in Armenia`s GDP could be increased - minister Foreign debt`s share in Armenia`s GDP could be increased - minister 
Read more
Exchange rates
30.10.2025
RUB4.75-0.04
USD382.720.10
EUR444.15-1.53
GBP504.23-1.52
CAD274.21-0.33
JPY24.86-0.27
CNY53.81-0.08
CHF478.40-2.22


Experts
Expert: Electricity tariff containment in Armenia is only temporaryExpert: Electricity tariff containment in Armenia is only temporary
Political Scientist: Armenia`s withdrawal from  Eurasian Economic  Union (EAEU) to result in its dependence on Azerbaijani and Turkish  marketsPolitical Scientist: Armenia`s withdrawal from  Eurasian Economic  Union (EAEU) to result in its dependence on Azerbaijani and Turkish  markets
Artur Avetisyan: All discussions regarding the choice of a future NPP  model will remain mere talk until there is a vision for strategic  developmentArtur Avetisyan: All discussions regarding the choice of a future NPP  model will remain mere talk until there is a vision for strategic  development
Read more

Commented
ATI.SU: Demand for international cargo transportation 30% up in  ArmeniaATI.SU: Demand for international cargo transportation 30% up in  Armenia
Civil Contract nominates Armen Ktoyan for  Central Bank Board Member  positionCivil Contract nominates Armen Ktoyan for  Central Bank Board Member  position
Armenia, France considering prospects for expanding technological  cooperation  Armenia, France considering prospects for expanding technological  cooperation  
Over 99.9% of wheat imported to Armenia comes from RussiaOver 99.9% of wheat imported to Armenia comes from Russia

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2