ProCredit Bank sums up its record over the last 9 months

The negative influence of the August events has not been significant for ProCredit Bank, which is continuing to pursue its general strategy in Georgia, Philipp Pott, General Director of ProCredit Bank, Georgia told journalists at a special press conference devoted to presenting the bank’s results for the first three quarters of 2008 and attended by the chairperson of the Supervisory Board Stephan Boven.

Pott said that although the bank lost about USD 13 million in deposits in August, it still managed to achieve a pure profit of USD 6.7 million. “Despite the August events ProCredit Bank is continuing its investments in Georgia,” Pott stated, adding that 2008 has been the most successful year for the bank in terms of branch network extension, with 11 new branches opening all over the country and 6 more planned by the end of the year.

“Opening new branches means employing more people,” Pott noted, “we have employed 500 more people in 2008 due to the establishment of new branches. Now we are one of the biggest employers in Georgia, with some 1,800 employees all over Georgia.”

Speaking about the consequences of the August war, Pott mentioned that ProCredit bank has initiated a project to assist families damaged during the military actions. The project envisages giving psychological assistance to children from the Tskhinvali region. 500 people have so far been through a ten-day rehabilitation course in different parts of Georgia. ProCredit Bank has allocated 300,000 GEL for this project, Pott said. He mentioned that ProCredit Bank clients also have greatly contributed to the fulfillment of the project.

Pott said that financing small and medium-sized businesses remains among the top priorities of ProCredit Bank, because, he said, most of the jobs in the country are created by these businesses, and therefore they benefit the country’s economy.

“ProCredit Bank is rapidly developing in Georgia. Due to its stable financial position and qualified staff, we are sure that in the next few years we will reach our goal. We believe in Georgia’s future and will continue our investments in this country,” Pott said.