MFI Report

ProCredit Bank began operating in Ukraine in February 2001 as a bank that specializes in providing financing to micro, small and medium-sized Ukrainian enterprises. Until autumn 2003, the bank operated under the name “Microfinance Bank”. The change to the current name took place on the basis of the founding shareholders’ decision to unite the banks established by them in 19 countries worldwide, all of which focus on lending to small businesses, under a single name. At present, there are ProCredit Banks in the following Eastern European countries: Albania, Serbia and Montenegro, Bulgaria, Romania, Macedonia, Bosnia and Herzegovina, Kosovo, Georgia and Moldova.

In 2004 ProCredit Bank opted to broaden its range of services for both entrepreneurs and private households. The retail section of ProCredit Bank now offers easy-to-use payment cards and practical deposit products, designed for individuals with different income levels. ProCredit Bank obtained a “BB-Positive” long-term rating from Fitch Ratings, which at that time was the highest score that the international rating agency was willing to award to any entity in Ukraine.

Five development-oriented international organizations own ProCredit Bank and determine its policy. One of their main objectives is the development of private enterprises in Europe and throughout the world. In Ukraine, the shareholders have pooled their extensive experience gained in countries all over the world and adapted it to Ukrainian conditions in order to found a bank that can provide strong and reliable support to Ukraine's small and micro enterprises and private entrepreneurs.
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