OREANDA-NEWS. February 05, 2007. As of today very small and small entrepreneurs as well as “ordinary people” of Armenia do have a new bank and are welcome at ProCredit Bank. The bank is located at 31/99 Moskovyan Street in Yerevan, reported the press-centre of ProCredit Bank.

ProCredit Bank in Armenia, as well as in all countries of its operation, will be customer-oriented, socially responsible bank, providing high-quality and affordable services to ordinary people, stressing the importance of lending to very small, small, and medium-sized businesses and developing the savings culture among ordinary people. “We will be your bank around the corner that offers the best service to all its customers. We welcome everyone to start saving with us or to get a loan for developing her/his business. The whole ProCredit Team is looking forward to starting operations in Armenia. We want to be your bank and make a difference,” states the Executive Director of ProCredit Bank, Mr. Bertolt Hertzfeldt.

ProCredit Bank focuses on lending to very small, small and medium-sized enterprises, as we are convinced that these businesses create the largest number of jobs and make a vital contribution to the economical development of Armenia. The bank will offer business loans starting from 100 USD for small entrepreneurs and transparent banking services to private individuals such as saving accounts without minimum deposit amount.

The Central Bank of Armenia granted ProCredit Bank license to conduct banking operations in Armenia on December 7, 2007. The shareholders of ProCredit Bank are ProCredit Holding AG with the 66,66% of shares, KfW with 16,67% of shares, and EBRD with 16,67% of shares. By the end of 2008 ProCredit Bank Armenia will be present in three regions of Armenia with six branches: four in Yerevan, one in Vanadzor, and one in Artashat.

About ProCredit Bank:
ProCredit Bank in Armenia is part of the ProCredit Group. The Group consists of 22 financial institutions in Eastern Europe, Africa, and Latin America which are led and supervised by ProCredit Holding, based in Frankfurt am Main, Germany. It is not associated with any commercial or political group. ProCredit Banks all over the world have similar management system, operate according to the same values and offer their customers similar banking services.

For more information please visit:  www.procreditbank.am  or www.procredit-holding.com