Procreditbank - Exchange rate - Ciobu Stela

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Deposits and Other Banking Services for 2009 The Moldovan deposit market was negatively affected by three major factors in 2009: reduced remittance inflows, the collapse of Investprivatbank,and a price war between major banking players. Some institutions began offering high deposit interest rates on short-term investments in an effort to attract local funds. This caused the volume of term deposit accounts in the banking system to fall by 16.3%. ProCredit Bank did not seek to collect deposits at any price, but rather adhered to its policy of building long-term relationships founded on trust. We offer our customers fair conditions and transparent pricing information. The high level of public confidence in the bank was reflected by a significant increase in total deposits. The number of accounts more than doubled in 2009, reaching 22,653. The deposit base increased by 103.5% to USD 19.7 million (MDL 242.1 million), and the average balance on accounts also grew, rising to USD 861 (MDL 10,587). At the end of December, the deposit-to-loan ratio was 61.8%. Unlike other banks in Moldova, bank welcome customers from all social backgrounds. A particular aim is to foster a savings culture by offering attractive deposit options to small savers, including those traditionally excluded from the financial sector such as pensioners and lower-income families. One of the most popular products is the regular savings account: this allows customers to deposit any amount they wish, no matter how small, and still have immediate access to their funds with no penalty fee. The number of savings accounts grew by 118.4% in 2009, and the volume of deposits in these accounts increased by 350.7%. ProCredit Bank aims to be the “house bank” of choice for its business clients – a reliable partner they can turn to for all their day-to-day financial needs. We introduced a number of products and services in 2009 to better meet the requirements and expectations of our diverse target groups: • Visa Classic and Visa Business Electron cards are now offered in addition to the regular Visa Electron debit card, which was launched towards the end of 2008; • Bank installed a network of 27 ATM terminals to give customers around-the-clock access to their accounts; • A utilities payment processing service was introduced in June. ...