Yerevan/Mediamax/. “ProCredit Bank” will try to fill the gap, existing in the sphere of agribusiness crediting in Armenia.

Mediamax reports that Bank CEO Berthold Hertzfeldt said this, speaking at a news conference in Yerevan late on Monday.

He informed that the bank will stir up agribusiness crediting given assistance of the Austrian Development Bank and by the end of the year it will start loaning to this sector in all its 9 branches: at present, agribusiness crediting is realized in Artashat and Yerevan branches of the bank.

Berthold Hertzfeldt informed that the banks loans to agribusiness at the lowest interest rates existing in the given sector – 9.5% annual for foreign currency loans and 14.5% for AMD loans.

“At present, the bank’s portfolio of agricultural credits equals USD 2.5mln”, Bank CEO informed, expressing confidence in dynamic growth of the given index soon.

Credit portfolio of “ProCredit Bank” increased by 41%, making USD 45mln in the first three quarters of 2010. Growth of the bank’s deposit portfolio made 25% (USD 23mln) in 9 months. According to Berthold Hertzfeldt, by the end of the year the bank plans growth in all business directions, in particular, it plans to make credit portfolio volume reach up to USD 60mln.

“Due to efficient risk management, the bank secures high quality of the credit portfolio and plans to complete the third quarter with 2% share of credits, overdue for over 30 days”, Berthold Hertzfeldt informed.

He also noted that the number of the bank’s customers made about 11 thousands in Armenia in 2.5 years of activity. Touching upon the bank’s plans for 2011, the Bank CEO informed on intentions to double the number of branches.