Thursday, October 30 2014

 ProCredit Bank has reopened its renovated Artashat branch (Artashat, 23 Ogostosi St.  21/2).

The press service of ProCredit Bank reports that the Central Bank of Armenia registered the branch on Oct 15 2014.

Now the branch has better conditions for customers and will offer all existing banking services with focus on SMEs. By having renovated the branch ProCredit Bank has reconfirmed its adherence to the concept of House Bank for small and medium-sized businessmen.

The reopening ceremony was attended by the bank's regional customers, the Mayor of Artashat and the Governor of the Ararat region. The guests were familiarized with the bank's business development solutions and the privileges a businessman can enjoy as the bank's customer.

"This year we have started renovating and optimizing our branch network. Shortly we will reopen more renovated branches. We are also planning to open new branches, which will be equipped with advanced technologies and will offer our customers high quality services," member of the Board of ProCredit Bank Lilit Garayan said.

ProCredit Bank was opened on Feb 5 2008 and specializes in SME financing, which is the credit policy of its owner, ProCredit Holding AG. On Sept 30 2008 the bank's authorized capital was 5.790bln AMD. On Jan 1 2009 it already was 6.090bln AMD. In Q2 2010 the capital was increased by 400mln AMD to 6.490bln AMD, in Aug 2012 by 1bln AMD to 7.490bln AMD. The bank's key shareholders are ProCredit Holding AG (79.51%), KfW (9.66%) and EBRD (10.83% each). As of Oct 1 2014 the bank's capital made up 9bln AMD, assets 57.5bln AMD, loans 47.7bln AMD, where in loans given to SMEs made up 38.7bln AMD (80% of all of the bank's loans).