Procredit Bank Albania Information

ProCredit Bank Albania was founded in 1995 as the “Foundation for Enterprise Finance and Development” (FEFAD) with 100% of its share capital provided by KfW. The institution focused on providing small and very small Albanian businesses with access to finance. Despite the country’s economic and political turmoil of 1997, FEFAD achieved a strong financial performance and received a banking license in 1999, becoming FEFAD Bank. The founding shareholders of the bank were FEFAD Foundation, ProCredit Holding (then known as IMI), the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation; they were joined by Commerzbank AG in 2002. This year, ProCredit Holding further consolidated its stake in the bank, taking over the shares of EBRD. Paid-in capital has risen continuously and now amounts to EUR 25,7 million. In 2003 the institution was renamed “ProCredit Bank”, thus reflecting its affiliation with the ProCredit group.