Procredit Group
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The Procredit Group is a network of 18 microfinance banks in developing economies in Latin America, Eastern Europe, and Africa. The Procredit Group is owned by Procredit Holding, an investment bank in Frankfurt am Main, which was founded in 1998. The Procredit Group is one of the larger Microfinance institutions (MFIs). It differs from many Microcredit groups in its high focus on profits. According to the annual report, the Group uses the majority of its profits from its loans to increase the size of the network and set up new banks.
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[edit] List of Procredit Group banks
[edit] Latin America
- Banco Procredit, El Salvador
- Banco Procredit, Nicaragua
- Banco Procredit, Ecuador
- Banco Los Andes Procredit, Bolivia
- Banco Procredit, Honduras
- Procredit Services, Colombia
- Procredit, Mexico
[edit] Africa
- Procredit, Ghana
- Procredit Bank, Democratic Republic of Congo
- NovoBanco, Angola
- NovoBanco, Mozambique
- NProCredit Bank, Sierra Leone
[edit] Eastern Europe
- Procredit Bank, Bosnia
- Procredit Bank, Serbia
- Procredit Bank, Albania
- Procredit Bank, Kosovo
- Procredit Bank, Republic of Macedonia
- Procredit Bank, Bulgaria
- Procredit Bank, Romania
- Procredit Bank, Moldova
- Procredit Bank, Ukraine
- Procredit Bank, Georgia
[edit] Procredit expansion
The Procredit Group, like many MFIs, is rapidly expanding. By the end of 2008, new banks will open in Armenia and Kyrgyzstan.
[edit] Shareholders in Procredit Group
[edit] Voting shareholders
I. Voting Shares
IPC GmbH
31,695,040
20.7
IPC Invest GmbH & Co KG
7,264,400
4.8
KFW
27,697,800
18.1
DOEN
27,093,040
17.7
IFC
20,948,200
13.7
FMO
10,768,680
7.0
BIO
11,516,440
7.5
TIAA CREF
4,544,800
3.0
Fundasal
4,452,240
2.9
Omidyar-Tufts Microfinance Fund
2,673,320
1.7
Andromeda
2,080,000
1.4
responsAbility
2,080,000
1.4
Total Voting Capital
152,813,960 100
[edit] Non-voting shareholders
- TIAA-CREF 53.0%
- Omidyar-Tufts Microfinance Fund 31.2%
- responsAbility 10.1%
- Andromeda 5.6%
