ProCredit bank offers higher interest rates for time deposits in leks

TIRANA, Nov. 5 – ProCredit Bank announced that beginning November 5 it will increase the interest rates of 1, 3, 6, 12, 24 and 36 month deposits in Albanian lek.
In order to be closer to clients and to promote the savings culture in the local currency, ProCredit Bank offers highly competitive interest rates, it said in a statement.
The increase of interest rates in local currency has resulted from the monetary policy of the Central Bank and from the signals and expectations of the market.
Through the end of September 2007, about 59.4 percent of the deposit portfolios at ProCredit Bank was in ALL, as well as 54.8 percent of loan portfolios. These figures clearly indicate that ProCredit Bank urges savings and lending in the local currency.
ProCredit Bank also offers the Time Deposit Automatic Renovation service, which does not require clients to be present on the day of maturity because the deposit is automatically renewed.
ProCredit Bank has a country-wide network with 26 branches and agencies.
More than 143,000 clients have trusted their savings, valued at 211 million EUR, to ProCredit Bank in Albania, whose shareholders are large international institutions with very high credibility and consistency.
ProCredit Bank’s shareholders are: ProCredit Holding AG, Kreditanstalt fur Wiederaufbau (KfW), Commerzbank AG and International Finance Corporation (IFC-part of the World Bank). ProCredit Bank has branches in 22 countries in: East Europe, Africa and South America.