Starting from March 17 till April 30, 2009 ProCredit Bank announces a new loan campaign for local producers in Armenia, the bank’s press office reported.
The purpose of the campaign is to support small businesses involved in production business to stimulate their production volumes, purchase raw materials and equipment. In the framework of this campaign, entrepreneurs can receive loans up to AMD 15 000 000 and interest rate of 18% annually.
Bertolt Hertzfeldt, executive director of ProCredit Bank, said, “ProCredit Bank is aiming to build stable and long term partnership offering our customers good quality and transparent banking services. We believe that these loans will stimulate the local producers to keep their position in the market and help them to develop their businesses”.
ProCredit Bank launched its activities in Armenia in February 2008. ProCredit Bank is a full-service bank with a 100% foreign capital, focused on lending to small and medium sized enterprises and offering a full scale of banking services to private individuals and legal entities. Another important area of ProCredit Bank’s focus is to promote savings culture among the population, by starting even from small amounts. ProCredit Bank in Armenia is a member of ProCredit Group, consisting of 22 financial institutions operating in Eastern Europe, Africa and Latin America, which are governed by ProCredit Holding AG located in Frankfurt, Germany.
Founders of ProCredit Bank in Armenia are such well-known international organizations as:
ProCredit Holding AG – 67.49% shares
KfW – 15.84 % shares
EBRD – 16.67% shares
Since February 2008 the bank is serving more than 4500 clients including deposit clients and has an outstanding loan portfolio of about USD 23.mln and deposit portfolio around USD 9.5 mln.
