PROCREDIT BANK BEGINS ITS WORK IN ARMENIA

RIA Oreanda
February 11, 2008 Monday
Russia

Economic News

Yerevan. 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.

From: Emil Lazarian | Ararat NewsPress