ProCredit Bank decreases interest rates for business loans

PanARMENIAN.Net - From March 2 to April 30, 2009 ProCredit Bank announces an action about USD loan products, staying true to its traditions in helping to develop small and medium sized businesses. During that term for loans from USD 50 000 to USD 500 000 the interest rate will range between 13% and 15%. This will be a new step for stabilizing and developing small and medium sized businesses, ProCredit Bank's press office told PanARMENIAN.Net



ProCredit Bank in Armenia believes that very small, small, and medium sized businesses create the largest number of jobs and make an important contribution to the economy.



ProCredit bank view its mission as creating financial institutions for "ordinary people," ProCredit bank is   seen as friendly and professional trendsetters in transparent and prudent banking.



On December 7, 2007 ProCredit Bank was licensed by the Central Bank of the Republic of Armenia (License N 85) and opened for clients on February 5, 2008.



ProCredit bank is a development-oriented full service bank focusing on lending to very small, small, and medium-sized enterprises.



The Shareholders of ProCredit Bank in Armenia are:

- ProCredit Holding - with 66.66% of shares

- KfW - with 16.67% of shares

- EBRD - with 16.67% of shares



ProCredit Bank Armenia is a member of ProCredit Group. ProCredit Group consists of 22 banks operating in Eastern Europe, Africa and Latin America, which are led and supervised by ProCredit Holding AG, based in Frankfurt am Main, Germany.



The bank is a member of the Union of Banks of Armenia and Deposit Guarantee Fund of Armenia.



The bank also cooperates with "ACRA Credit Reporting" CJSC. As of 30 Junе 2008 the number of employees of ProCredit bank in Armenia was 206 people.



As of 30 September 2008: total capital - 5 193 674 dram, the assets - 10 883 070 dram, the liabilities - 5 689 396 dram.