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Fitch Ratings upgrade ProCredit Bank (Bulgaria) EAD's Viability Rating

23.04.2021
Fitch Ratings upgrade ProCredit Bank (Bulgaria) EAD's Viability Rating

The international rating agency Fitch Ratings has upgraded ProCredit Bank (Bulgaria) EAD’s viability rating to 'bb' from 'bb-', which reflects the strong risk management and maintenance of high asset quality given the bank's low impaired loans, which at end 2020 stood at 2.5% of gross loans, well below the sector average of 8.2%. In addition, the agency has confirmed the bank’s long-term credit rating in foreign and local currency at BBB- with a stable outlook.

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-upgrades-bulgarian-procredit-vr-to-bb-affirms-idr-at-bbb-stable-21-04-2021