The Supervisory Board of ProCredit General Partner AG, the sole managing entity of ProCredit Holding AG & Co. KGaA, has resolved today to appoint a Chair of the Management Board for the first time. The Management Board welcomes this decision. (more…)
ProCredit General Partner AG, in consultation with its shareholders, the core shareholders of ProCredit Holding, today agreed to prepare a change of the legal form of ProCredit Holding from a partnership limited by shares (KGaA) to a stock corporation company (Aktiengesellschaft, AG). The change of legal form requires approval by the shareholders of the Company (Kommanditaktionäre) and is to be obtained at a general meeting within the next two years. The group’s business focus and, in particular, its commitment to impact-orientation and to the provision of responsible banking services mainly in South Eastern and Eastern Europe, will remain strong and unaffected. (more…)
As announced on July 5, 2022, ProCredit Holding AG & Co. KGaA (“the Company”) has asked for the consent of its creditors to amend the terms of certain fixed rate debt instruments of the Company (bearer bonds, registered bonds, promissory notes and a non-subordinated loan, together “Debt Instruments”). In total, the Company had asked creditors of Debt Instruments with a total nominal amount of EUR 289.5 million to consent to the suspension of the extraordinary termination right. The consent rate across relevant debt instruments is currently 76% (total nominal amount EUR 221 million; for the determination of this consent rate, the still necessary implementation of the agreements and consents of the creditors through the adjustment of security certificates as well as publication and registration obligations are not taken into account). (more…)
• Result of EUR 7.7m or annualised RoE of 1.8% includes provisioning of EUR 57.3m mainly for Ukrainian loan portfolio
• Result excluding Ukrainian operations increased by more than 60% compared to H1 2021
• Cost-income ratio improved by 4.3 percentage points to 60.1% based on good increase in operating income by 24% on H1 2021
• Growth in loans of 6.2%, credit-impaired loans increased to 2.6% due to Ukrainian portfolio
• Prudent capital base with CET1 ratio (fully loaded) of 13.7% and leverage ratio of 9.7%
• Guidance for the financial year 2022 updated (more…)
ProCredit Holding AG & Co. KGaA (ProCredit) seeks to amend the terms and conditions of a part of its outstanding debt instruments, either by majority resolutions of the respective holders or by contractual agreements. (more…)
• Result of EUR -1.7 million driven by EUR 35.3 million provisions for Ukrainian loan portfolio
• Underlying profitability in all other countries of operation further increased
• Growth in loans of 1.8%, portfolio quality remains strong with a low level of 2.3% credit impaired loans
• Cost-income ratio improves by 5.7 percentage points to 59.1% as operating income increases by 24% compared to Q1 2021
• Largest segment South Eastern Europe achieves significant increase in return on equity to 12.2%
• Prudent capital base with CET1 ratio (fully loaded) of 13.4% and leverage ratio of 9.2% (more…)
• Publication of the Impact Report Package for the 2021 financial year
• CO₂ emissions reduced by 56% since 2018
• Portfolio share of green loans to clients at 19%, saving 324.5 kilotonnes of CO₂
• Development impact highlighted by low default rates of SME clients and high loan portfolio quality throughout the pandemic
• Further expansion and group-wide promotion of e-mobility
• Stricter exclusion criteria in lending
• EU Taxonomy provides tailwind for the financing of sustainable investments
• Ukraine: Support for employees and continued operations (more…)
• Increase in result of 92% to EUR 79.6 million despite challenging market environment; return on equity of 9.7% on level of medium-term target of approximately 10%
• Strong growth in loans of 12.8% and deposits of 13.1%
• Very solid capital base with CET1 ratio (fully loaded) of 14.1% and leverage ratio of 9.3%
• War in Ukraine leading to limited ability to forecast FY 2022 metrics; decision to propose to General Meeting to carry forward full amount of retained earnings for FY 2021
• Management reiterates the strategic benefits of the group’s long-term, impact-oriented business model and confirms the group’s medium-term targets (more…)
The Management Board of ProCredit General Partner AG, the sole managing entity of ProCredit Holding AG & Co, has been expanded to four members. (more…)
ProCredit Holding AG & Co. KGaA (ProCredit Holding), based in Frankfurt am Main, Germany, which is the parent company of the development-oriented ProCredit group consisting of commercial banks for small and medium enterprises and whose operational focus is on South Eastern and Eastern Europe, held an Extraordinary General Meeting yesterday. In view of the ongoing COVID-19 pandemic it was held as a virtual event, as were other recent General Meetings. (more…)