YEREVAN, September 28, /ARKA/. The European Bank for Reconstruction and Development has increased its capital in ProCredit Armenia Bank by $1 (one) million raising its total chartered capital to 6.49 billion Drams, ProCredit Armenia Bank chief executive officer, Bertolt Hertzfeldt, told journalists Monday.

He said the share of founders of ProCredit Bank, ProCredit Holding AG, KfW and EBRD rose to 68.46%, 16.67 % and 14.87% respectively. ProCredit Holding AG board chairman Christoph Freytag said the bank attracts funds to increase its capital and will continue this strategy that allows it to increase its share in the Armenian market as well. He said despite some changes in the chartered capital ProCredit Holding AG’s share will not exceed two thirds.

Gerald Hubner, ProCredit Bank board member and a representative of KfW said KfW is also likely to increase its share in ProCredit Armenia Bank next year.

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Tags: CAPITAL, EBRD, ProCredit Armenia Bank

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