In February-March 2010 Progress Bank ended in profits. Progress Bank profits made up 11 728 GEL in March 2010 and the losses dropped to 141 995 GEL at the end of the first quarter of 2010. The figure made up 530 341 GEL as of January 1, 2010.
Progress Bank assets recorded 13 227 221 GEL at the end of the first quarter of 2010, while the figure totaled 13 063 915 GEL as of January 1, 2010.
Progress Bank credit portfolio made up 8 216 602 GEL as of April 1. The figure stood at 6 070 764 GEL as of January 1, 2010.
Progress Bank nonbank deposits equaled 778 401 GEL as of April 1, 2010.
Progress bank obtained banking license in 2007 and launched operation in November 2008. The bank has been founded by Kala Capital.
Kakha Kaladze, the Kala Capital founder, is conducting negotiations with Intesa Sanpaulo Italian bank on acquisition of a stake in Progress Bank.