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ProCredit group reports positive half-year result
17.08.2022Frankfurt am Main, 11 August 2022 – The ProCredit group, which is mainly active in South Eastern and Eastern Europe, recorded a positive result of EUR 7.7 million in the first half-year of 2022, as a strong performance of most of its banks more than offset the high level of loan-loss provisions for the Ukrainian loan portfolio. A marked increase in operating income by 24% has been the major driver behind this and contributed to the strong reduction in the cost-income ratio by 4.3 percentage points to a level of 60.1%. The result of the group excluding the result contribution from ProCredit Bank Ukraine improved by EUR 16.3m or 64% to a level of EUR 42.0m or 9.5% annualised RoE, underlining the group’s regional diversification and resilience.
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