EQS-News

ProCredit Holding AG & Co. KGaA: ProCredit group reports resilient financial result as strong operational performance for 9M 2022 balances continued provisions for Ukrainian operations

EQS-News: ProCredit Holding AG & Co. KGaA / Key word(s): 9 Month figures/9 Month figures ProCredit Holding AG & Co. KGaA: ProCredit group reports resilient financial result as strong operational performance for 9M 2022 balances continued provisions for Ukrainian operations 10.11.2022 / 06:59 CET/CEST The issuer is solely responsible for the content of this announcement. ProCredit group reports resilient financial result as strong operational performance for 9M 2022 balances continued provisions for Ukrainian operations

 

• Group result of EUR 17.3 million in 9M 2022, with the third quarter contributing EUR 9.6 million; RoE at 2.7%
• 9M 2022 result includes provisions of EUR 79.1 million or 173 bps cost of risk, largely for Ukrainian loan portfolio; credit-impaired loans at 3.1%
• Result excluding Ukrainian operations up by EUR 15.8 million or 35%, annualised RoE at good level of 9.0%
• Cost-income ratio improves by 1.7 percentage points to 60.7% as operating income increases markedly by 21%
• Portfolio grows by 6.2% with share in green loans increased to 19.7%
• Comfortable CET1 ratio (fully loaded) of 13.6% and leverage ratio of 9.3%

 

Frankfurt am Main, 10 November 2022 – The ProCredit group, which is mainly active in South Eastern and Eastern Europe, recorded a result of EUR 17.3 million in the first nine months of 2022. This corresponds to an annualised RoE of 2.7%. Operating income increased by 21% y-o-y, contributing to the good reduction in the cost-income ratio by 1.7 percentage points to a level of 60.7%. The result continues to be marked by high levels of provisions of EUR 79.1 million, of which EUR 73.1 million were built for the group’s Ukrainian portfolio. Overall, the group’s 9M 2022 results show good progress with regard to the guidance metrics for the financial year 2022.