DGAP-News

ProCredit Holding AG & Co. KGaA: ProCredit group's profitable growth continues in third quarter

DGAP-News: ProCredit Holding AG & Co. KGaA / Key word(s): 9 Month figures/9 Month figures ProCredit Holding AG & Co. KGaA: ProCredit group's profitable growth continues in third quarter 12.11.2020 / 06:55 The issuer is solely responsible for the content of this announcement. ProCredit group's profitable growth continues in third quarter

- Strong 8.5% increase in customer loan portfolio since the beginning of the year; customer deposits grow by 8.9%

- Consolidated result of EUR 33.4 million corresponds to an annualised return on equity of 5.6% with stable operating expenses and a significant improvement in earnings before tax and cost of risk

- Annualised cost of risk of 56 basis points, with non-performing loans stable at 2.3% and a 98.5% ratio of allowances to credit-impaired loans

- Solid capital base with Common Equity Tier 1 ratio (CET1 fully loaded) of 14.1%

- Decision on proposal for the appropriation of profit for the 2019 financial year

Frankfurt am Main, 12 November 2020 - The ProCredit group, which is mainly active in South Eastern and Eastern Europe, reported good business and financial results at the end of the third quarter, in the context of the challenges posed by the COVID-19 pandemic. In the first nine months of the financial year, the customer loan portfolio grew by 8.5% or EUR 408 million, which was slightly above the corresponding growth figure for the previous year (9M 2019: +8.3% / EUR +318 million). Growth in customer deposits was similarly strong at 8.9% or EUR 384 million. The consolidated result of EUR 33.4 million (9M 2019: EUR 44.0 million) was mainly characterised by an improvement in net interest income that was more than offset by higher expenses for loss allowances. The improvement in the cost-income ratio by 1.9 percentage points to 66.5% reflects a significant EUR 4.6 million rise in earnings before taxes and loss allowances to EUR 63.0 million.