Miro Bank becomes ProCredit Bank

Miro Bank Romania, a bank that provides micro-financing, is preparing to change its name to ProCredit Bank in late October, in a bid to underscore its being part of the namesake international group. “We will conduct an intense rebranding campaign, so as our partners should understand we are only changing our name, not selling the bank. We continue to enjoy the full support of our shareholders who are dedicated to the purpose for which this bank was created, that is micro-financing,” stated Axel Hummel, the bank’s general manager. ProCredit Bank group is present in 18 countries, on three continents, through over 200 branches. Its activity is dedicated to financing small and medium-sized enterprises (SME). At the end of last year, the group owned total assets exceeding one billion euros, while the total volume of deposits stood at more than 550 million euros. “By 2003, the bank had been growing slower on the Romanian market than we had initially anticipated. Starting 2004, things have changed and the growth pace is beyond our expectations. Almost all indicators have a monthly growth pace of 10%. We hope to maintain the same pace since the market allows it,” said Hummel.