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ProCredit Bank starts promoting small and medium-sized businesses

By Tatia Megeneishvili
Thursday, January 29
ProCredit Bank held a press conference on January 27. The main topic of the conference was the presentation of a new strategy over the past year.

According to the General Director of ProCredit Bank Asmus Rotne, after 15 years in the banking sector, the bank is planning to amend its strategy, quit the business of 10, 000 Euro micro loans and instead sell portfolios in the same field.

“With the new strategy, we move to a new stage of development and focus all our resources on small and medium entrepreneurship. Our bank believes this segment will create new jobs in the country and also seriously contribute to the Georgian economy. The interest rate of the portfolio will be only 5%,” stated Rotne.

Rotne stated that they plan to establish an innovational banking service that will ease various banking operations for consumers.

According to the report, in 2014 ProCredit bank created business centers in Tbilisi, Batumi and Kutaisi. The business advisors who worked in the branches served not only the towns, but the whole regions as well.

During 2014, ProCredit Bank had a net profit of 24 million Gel (13 million US dollars).