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Progress Bank Increased Assets by 150% in 2015

Progress Bank Increased Assets by 150% in 2015

Progress Bank has seen an increase of its assets by 147%, loan portfolio – by 97%, and deposits – by 150% in 2015 in comparison with the previous year.

The main part of the credit portfolio of the Bank has been made up by trade. The Bank plans to increase its activity in financing the service and tourism sectors. The main focus of Progress Bank remains the implementation of remote services.

2015 has been a period of preparation for further activity on the market. During the last eleven months we have undertaken market research and prepared competitive products. The Bank updated its software, as well as implementing and developing distance services. Customer-oriented internal procedures were also created and improved. The Bank hired new, qualified staff. Rebranding of the Bank was one of the most important steps to take place during the year. We formatted our organizational structure so that it is in line with achieving our goals.

During the implementation of new products and technologies the Bank is focused on services offered by Georgian companies, thereby contributing to the development of local businesses and raising their competitiveness with respect to foreign companies.