ProCredit Bank Albania Sh.a. (Albania)

Tirana-based ProCredit Bank Albania was established in 1999 under the name FEFAD Bank. The bank is a successor of the Foundation for Enterprise Finance and Development (FEFAD) set up by the Albanian government and German state-owned development bank KfW. In July 1999, the European Bank for Reconstruction and Development placed an equity investment of EUR 1.2 million in the bank. The same month, the World Bank's commercial lending arm, the International Finance Corporation (IFC), injected approximately USD 1.0 million in the bank via an equity investment. FEFAD Bank changed its name to ProCredit Bank Albania in September 2003 after Germany-based ProCredit Holding AG became its majority owner. The Albanian bank offers a wide range of banking products and services, with main focus on micro and small-sized enterprises in the private sector. ProCredit Bank Albania attends its clients through a branch network of nearly 40 outlets nationwide.