ProCredit bank Sierra Leone limited Friday opened its new branch at Lumley in Freetown.

Speaking at the opening ceremony, deputy bank governor Alhaji Mohamed Fofana said the bank has secured another licence from Bank of Sierra Leone to open a branch at Waterloo, making it the fourth branch in its network.

"During this short period of operations, ProCredit bank has mobilized a total deposit of Le 6 billion from a total of 10,064 account holders. It has also extended credit of Le12.30 billion to 2,443 customers, a very remarkable achievement," Alhaji Fofana said.

He noted that the bank's focus on micro credit promotion was an important mile-stone in the country's poverty reduction drive.

Fofana appealed to the banking industry to continue providing efficient and affordable banking services to its customers.

Branch Manager Samai Bureh said the bank aimed at providing financial services for ordinary people, adding that in order to achieve its mission they would operate as a neighbourhood bank to residents of Lumley.

"As a partner in the community, we will invite people to our neighbours to know each others' problems and needs. We will be your partners for the improvement of your savings as well as providing your liquidity needs in the form of loans for business," he said.

Bureh revealed that the bank's deposit products were savings account, current account and term deposit, adding that they neither charge for the opening of account nor maintenance.

He said even though the bank was a year old, it has already built up a good reputation as a reliable partner for business and a safe haven for businesses.

"As a German bank, we are operating in 22 countries with 17,000 employees. We serve 2 million clients with entrusted savings of $4 billion in all its 1,000 branches," he said.