PROCREDIT BANK OF ARMENIA OPENS NEW BRANCH
ARKA
Aug 5, 2009
YEREVAN, August 5. /ARKA/. ProCredit Bank of Armenia opened a new
branch in Nor Nork community of Yerevan, as part of its branch network
expansion program. The address of the new branch is Gay Avenue 17/1,
marketing and public relations department of the bank reported.
"Opening of "Nor Nork" branch is a step forward to the stable
development of ProCredit Bank," says the press release. "Nor Nork",
the sixth branch of the bank, was officially registered by the Central
Bank of Armenia on July 18 2009.
"Nor Nork" branch is one of our most beautiful and largest branches
and we think that the community people will be satisfied both with
the products’ quality and with the warm atmosphere of the customer
service," said Ashot Abrahamyan, Deputy Executive Director of
ProCredit Bank.
The bank is planning to ensure its presence in all communities of
Yerevan and in Armenian regions within the next few years and become
a reliable banking partner, Abrahamyan said.
ProCredit Bank closed joint stock company launched its activities in
Armenia on February 5 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 foc us 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 am Main, Germany.
Founders of ProCredit Bank are ProCredit Holding AG (67.49% shares),
KfW (15.84%) and EBRD (16.67%). Since February 2008 the Bank is serving
more than 6600 clients including deposit clients. The bank has an
outstanding loan portfolio of about USD 24.5 million and deposit
portfolio of around USD 13.5 million. The headoffice of ProCredit
Bank is in Yerevan.