Sat, 26 July
28.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Procredit bank in Armenia to take up more dynamic and aggressive strategy

YEREVAN, October 4. / ARKA /. ProCredit Bank in Armenia will implement a more dynamic and aggressive strategy, Ghristoph Freytag, chairman of ProCredit Holding, said today.

Speaking at a news conference he said it took the bank a lot of efforts over the last three years to stabilize the situation affected by the latest global crisis. In respect to Armenia he said the bank was carefully increasing its credit portfolio.

‘Thank God, our bank in Armenia has managed to successfully cope with the crisis,” he said.

Freytag said within the new strategy the bank will focus on improvement of staff skills and pay greater attention to administration.

ProCredit Bank executive director, Asmus Rotne, said the bank is determined to become the leading bank for small business, both in terms of lending and services.

“Our goal is to become a steady and long-term partner for small businesses, providing them with high quality services through our professional staff, and be open and transparent with respect to our customers,” he stressed.

Speaking about working with individuals, Mr. Rotne said ProCredit Bank as a ‘round the corner bank’ is aimed at promoting financial literacy of clients.

“We will concentrate on developing a culture of savings,” he said, adding that the bank will not stimulate the aggressive consumer lending to customers.

ProCredit Bank was launched in Armenia in February 2008. ProCredit Bank in Armenia is part of the ProCredit Group, consisting of 21 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 such international well-known organizations as: ProCredit Holding AG – 68.46% shares, EBRD – 16.67% shares, KfW – 14.87% shares.  -0-

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img