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Fitch Ratings affirmed ProCredit Bank (Bulgaria) EAD’s Viability Rating

15.07.2022
Fitch Ratings affirmed ProCredit Bank (Bulgaria) EAD’s Viability Rating

The international rating agency Fitch Ratings has affirmed ProCredit Bank (Bulgaria) EAD’s long-term credit rating in foreign and local currency at BBB- with a stable outlook, which reflects the strong risk management and maintenance of high asset quality given the bank's low impaired loans, which at end 2021 stood at 1.6% of gross loans, well below the sector average of 6.1%. In addition, the agency has affirmed the bank’s viability rating at 'bb'.

In its report, the rating agency also expects that the bank's asset quality indicator will remain one of the strongest among Bulgarian banks.

 

More information about the published report: https://www.fitchratings.com/research/banks/fitch-affirms-bulgarian-procredit-at-bbb-outlook-stable-13-07-2022