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Tuesday, December 12, 2017

ProCredit Bank unveils new strategy to support SMEs

ProCredit Bank in Georgia said recently that it had a new strategy for increasing support for small and medium-size enterprises (SMEs).

The plan is for the bank to invest in small and medium-size businesses, and entrepreneurial ventures, through $11,285 micro loans. Officials note that this is 5 percent of the bank's current loan portfolio.

"The new strategy of the bank moved to a new stage of development, and as a result, resources were channeled to small and medium sectors, including banking services for sophisticated and comprehensive offerings," Director General Asmus Rotne said. "The bank believes that this segment of the business is rapidly expanding and creating new jobs as an important contributor to the economy."

The bank reported an increase in consumer funds, the total in its loan portfolio and the overall net profit of the bank in 2014. Consumer funds increased by 5 percent over 2013, and the loan portfolio grew by 7 percent. Net profits amounted to $13 million.

Organizations in this story

ProCredit Bank, Georgia 21 Al. Kazbegi Ave Tbilisi 0160, Georgia

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