| In July 2002 ProCredit Bank took over Microenterprise Credit Romania (MCR) including its five outlets in Bucharest, Cluj, Brasov, Timisoara and Constanta. However, the office in Bucharest was the only location appropriate for a commercial bank. Therefore, four new fully equipped bank branches were opened in the existing cities within the first three months of operations. Furthermore, in 2003 two new agencies in Bucharest – Militari and Pantelimon – and a branch in Craiova were opened.
At present ProCredit’s branch network consists of eight branches and two agencies in six major cities of Romania. In 2004, ProCredit will continue its strategy of increasing its market presence through both a larger number of outlets in the existing cities and broadening the geographical outreach to new markets.
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