Банкеръ Weekly

Briefs

PROCREDIT BANK HAS DOUBLED ITS CAPITAL

On May 19 the Bulgarian National Bank (BNB) allowed ProCredit Bank to double its capital and it is already BGN24MN. The decision for increasing the capital was made by the financial institution's Supervisory Board back in April during its meeting in Amsterdam. The shareholder stocks are already divided between the International Financial Cirporation, Washington - 19.20%, the European Bank for Reconstruction and Development, London - 20%, the German Company for Investments and Development, Koln - 20%, Kommerzbank, Frankfurt - 20%, and the International Microinvestment Fund, Frankfurt - 20.80 per cent.Since its opening ProCredit Bank has already extended more than 11,000 credits to Bulgarian entrepreneurs, worth EUR67MN. The bank's profit for the first quarter of 2003 was BGN411,000.

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