Banco ProCredit looks to boost loan portfolio 57% this year – Ecuador
Thursday, June 29, 2006
Excerpt: Ecuadorian niche bank Banco ProCredit aims to increase its loan portfolio to US$115mn by the end of this year, up 57% on end-2005, CEO Pedro Arriola told BNamericas.
The bank’s strategy focuses on strong growth in the small and microenterprises segment, a significant increase in its deposits base and development of a wide range of financial products, the executive said.
The average loan extended by ProCredit is US$2,500 and its clients typically earn just US$500-1,000 a month. Most are individuals with microenterprises in a wide range of activities in agriculture, services and commerce, according to Arriola.