YEREVAN, February 9, /ARKA/. ProCredit Bank in Armenia said today over the past three years since its inception here it has managed to accumulate a customer base of more than 11,500 individual and legal entities through its nine branches spread in Yerevan, Vanadzor, Gyumri and Artashat.

The bank said in a press release that its outstanding loan portfolio rose to of $51.6 million and it has also attracted $25 million deposits.

“The ProCredit Bank achievements in Armenia grounds on our customers unreserved confidence and relentless efforts of all 250 Bank employees. I would also like to emphasize the strong support of our shareholders ProCredit Holding, EBRD and KfW as well as the tangible contribution of ProCredit Group, the ProCredit Academies in Germany and Macedonia for middle-level managers and 21 country other Banks through exchange of experiences. We are looking for more opportunities to become even closer to our customers by truly being "The bank next to you" and capturing our deserved position in the Armenian banking sector over the next," the bank's Executive Director Bertolt Hertzfeld was quoted as saying.

ProCredit Bank said also since its opening on February 5, 2008 it has managed to successfully fulfil its promise in becoming a leading bank for very small, small and medium-sized enterprises, as well as the preferred bank for private customers living and working in the neighbourhood of its branches. ‘Despite difficult market conditions created by the outcome of the global financial crisis, the bank managed to record a steady growth and create a stable basis for its further development. The Bank managed to develop and offer competitive solutions to all major services needed by the customers,’ the press release said.

ProCredit Bank in Armenia is part of the ProCredit Group, consisting of 21 financial institutions operating in Eastern Europe, Africa and Latin America, which are governed by ProCredit Holding AG located in Frankfurt am Main, Germany. Founders of ProCredit Bank are such international well-known organizations as: ProCredit Holding AG - 68.46% shares, EBRD - 16.67% shares, KfW - 14.87% shares. -0-