EQS-Ad-hoc: ProCredit Holding AG & Co. KGaA / Key word(s): Change in Forecast
Frankfurt am Main, 30 May 2023 - On the basis of the strong financial result in the first quarter and due to the ongoing positive development of key earnings drivers, the Management Board of ProCredit General Partner AG decided today to raise the guidance for the group's return on equity and cost-income ratio in the current 2023 financial year as follows:
The Management Board now expects a return on equity of 8% to 10% and a cost-income ratio of 62% - 64% for the 2023 financial year. The guidance for return on equity is now based on an assumed cost of risk of up to 45 basis points.
In the report on expected developments included in ProCredit Holding’s consolidated financial statements for the 2022 financial year, the Management Board published a guidance for return on equity of 6.0% to 8.0% and a cost-income ratio at the previous year’s level of 64.0% (with a range of plus/minus 1%). The guidance for return on equity was based on an assumed cost of risk of up to 70 basis points.
The newly raised guidance continues to be subject to adverse assumptions for the remainder of the year, in particular to continue to take into account the ongoing combat activities in Ukraine and the associated uncertainties.
The outlook for loan portfolio growth in the mid-single-digit percentage range, a CET1 ratio of over 13% and a leverage ratio of around 9% were confirmed in the course of these adjustments. For the purpose of calculating the capital ratios, one-third of the interim profits for the financial year are to be set aside for a dividend payment in 2024.
End of Inside Information
Information and Explanation of the Issuer to this announcement:
Investor Relations, ProCredit Holding, Tel.: +49 69 951 437 0, e-mail: email@example.com
About ProCredit Holding AG & Co. KGaA
ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit group, which consists of commercial banks for small and medium enterprises (SMEs). In addition to its operational focus on South Eastern and Eastern Europe, the ProCredit group is also active in South America and Germany. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The core shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (the investment vehicle for ProCredit staff), KfW, the Dutch DOEN Participaties BV and, since very recently, the European Bank for Reconstruction and Development. As the group’s superordinated company according to the German Banking Act and as the parent financial holding company of the ProCredit financial holding group, ProCredit Holding AG & Co. KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. For additional information, visit : https://www.procredit-holding.com/
30-May-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||ProCredit Holding AG & Co. KGaA|
|60486 Frankfurt am Main|
|ISIN:||DE0006223407, DE000A289FD2, DE000A3E5LD7, DE000A0N37P3, DE000A161YW4, DE000A3MP7Z1, DE000A289E87, DE000A3E47A7, DE000A2YN7F2, DE000A2YN017|
|Indices:||im Freiverkehr der Frankfurter Wertpapierbörse|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1645049|
|End of Announcement||EQS News Service|
1645049 30-May-2023 CET/CEST