EQS-News

ProCredit with strong Q1 result and good start into the year

EQS-News: ProCredit Holding AG / Key word(s): Quarter Results/Quarterly / Interim Statement ProCredit with strong Q1 result and good start into the year 13.05.2024 / 06:58 CET/CEST The issuer is solely responsible for the content of this announcement. ProCredit with strong Q1 result and good start into the year

• Result of EUR 33.5 million corresponds to a return on equity of 13.4%
• Loan portfolio grows by 3.0%, with good contribution from all segments
• Deposits grow by 2.8%; private clients as major driver in line with updated business strategy
• Net interest margin of 3.7%, around 25 basis points higher than in Q1 2023; cost-income ratio at 61.7%
• Cost of risk at low level of 2 basis points, as result of stable loan portfolio quality and conservative risk profile
• CET1 ratio at 14.3%, reflecting steady capitalisation amid strong balance sheet growth during the period
• Dividend proposal to AGM in June 2024: EUR 0.64 dividend per share, in line with dividend policy

Frankfurt am Main, 13 May 2024 - The ProCredit group, which is mainly active in South Eastern and Eastern Europe, reported a strong financial result of EUR 33.5 million for the first three months of 2024, which corresponds to a return on equity of 13.4%. The loan portfolio showed strong growth of EUR 187 million or 3.0% and grew across all segments and all banks outside Ukraine. Deposit growth was similarly strong at 2.8%, mainly through deposits from private clients, which increased by more than 5%. The CET1 ratio remained steady at 14.3%, reflecting RWA growth broadly in line with the strong balance sheet development as well as the recognition of Q4-23 and Q1-24 profits (net of 1/3 for dividend accrual). The Management Board has proposed to the AGM scheduled for 4 June 2024 to pay out a dividend for FY-23 in the amount of EUR 0.64 per share, which corresponds to EUR 37.7 million in total.