Yerevan /Mediamax/. “ProCredit Bank” gross loan portfolio grew to USD 24 million in a year.

Mediamax reports referring the press service of the bank that “ProCredit Bank” is celebrating its first anniversary in Armenia today.

90% of loans in the business loan portfolio were for amounts less than USD 10,000.

During the last twelve months the bank’s total customer funds grew by USD 9.3 million and the total number of customer accounts reached 6,700. The majority of the customer funds are placed on savings and term deposit accounts, 80% of which are for amounts less than USD 1,000.

“Such a large number of small savings demonstrate the bank’s focus on becoming the bank for “ordinary people” who will have access to fair and transparent banking services”, “ProCredit Bank” noted.

By the end of 2009 up to seven new branches will be opened in Armenia.