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ProCredit group achieves good business development in Q1, although provisions for Ukrainian
17.05.2022Frankfurt 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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