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ProCredit group achieves good business development in Q1, although provisions for Ukrainian

ProCredit group achieves good business development in Q1, although provisions for Ukrainian

17.05.2022

Frankfurt am Main, 12 May 2022 – The ProCredit group, which is mainly active in South Eastern and Eastern Europe, recorded a loss of EUR 1.7 million in the first quarter of 2022, as loan-loss provisions for the Ukrainian loan portfolio offset an otherwise strong performance by the remaining ProCredit banks. Thanks to a marked increase in operating income, the cost-income-ratio improved by 5.7 percentage points to a level of 59.1%. The return on equity of the group’s largest segment, South Eastern Europe, increased significantly to 12.2%, further underlying the ProCredit group’s strong regional diversification and strengthening its resilience to adverse developments.

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