ProCredit Bank will seek shareholders approval for a capital increase by 20 million leva at its upcoming general meeting, said Petar Slavov, the new chair of the Board of Directors, earlier today speaking at the press conference on Amendments to the management body and future development strategies.

The bank's capital stands at 41 mln leva (20.9 mln euros). “The capital increase is a sign of the bank's commitment for successful long term development,” Slavov pointed out.

He also said ProCredit bank has some 300,000 clients according to latest data. The banks focuses on small and medium businesses.

As at 31 March 2008 the bank's profit stands at 3.02 mln leva (1.5 mln euros). Assets total 899.76 mln leva (460 mln euros). Credits and receivables stand at 752.13 mln leva (384.5 mln euros), while passives (calculated for amortization) amount to 809.62 mln leva (413 mln euros).

The bank is planning to build a training center for its personnel near Sofia. “The learning center will only be used for the training of our personnel only,” Slavov also said. The lender currently employs some 2,000 people, whose average age is below 30.

The amendments in the management also became clear today. Petar Slavov will replace Jean Marco Felice as a chair of the Board of Directors. Felice will undertake the management of the holding's Romanian unit. Emilia Tsareva is returning to the bank's management after a long absence.

Jean Marco Felice said that among the 23 banks in ProCredit Holding, the management of ProCredit Bank Bulgaria is the only one that consists entirely of regional representatives.