PROCREDIT BANK MARKS INTERNATIONAL SAVINGS DAY FOR FIRST TIME IN ARMENIA

Noyan Tapan
Oct 30, 2008

YEREVAN, OCTOBER 30, NOYAN TAPAN. ProCredit Bank marked International
Savings Day for the first time in Armenia. The bank organized a
number of educational events on the subject of savings for various
target groups.

ProCredit Bank’s Mashtots branch in Yerevan invited children living
nearby to participate in a drawing contest symbolizing the day,
with prizes being handed to the winners. The contest was followed
by games, during which the best performing children were dancing,
singing and reciting verses.

The head of ProCredit Bank’s Unit of Banking Services Alexey Paniklov
said that one direction of the bank’s work is constant financial
education of potential customers of all age groups. Such work
is done at all the branches of the bank, at various enterprises
and organizations, among children of preschool age, pupils and
students. ProCredit Bank receives useful information during dialog
with these groups.

In his words, the low level of savings culture in Armenia is
evident from the fact the ratio of deposits with Armenian banks to
GDP currently makes less than 20%. In order to form this culture,
ProCredit Bank introduces potential customers, for example, to the
savings instruments available in Armenia and the risks of their use.

The bank intends to make the celebration of International Savings Day a
tradition in Armenia. This tradition exists in all 21 other countries
(Eastern Europe, Africa, Latin America) where ProCredit banks run by
ProCredit Holding operate. The head office of ProCredit Holding is
in Frankfort.

The idea of marking International Savings Day was proposed during an
international congress held in Milan in 1924 with the participation
of 29 savings banks. The UN made an official decision to celebrate
that day in 1989.

From: Emil Lazarian | Ararat NewsPress