ProCredit Shows Robust Growth in H1 2024

The ProCredit group demonstrated strong financial performance in H1 2024, particularly in South Eastern and Eastern Europe. The loan portfolio increased by 6.9%, totaling EUR 429 million, with notable contributions from all bank segments except Ukraine. Deposits grew by 4.1%, driven mainly by private clients.

ProCredit's financial performance showed an annualized return on equity of 11.6%, with a financial result of EUR 57.6 million. Despite significant investments in growth catalysts like IT and marketing, operating income rose by 14.6% while the cost-income ratio slightly worsened to 64.1% due to increased personnel and administrative expenses.

The group maintained comfortable capitalization levels with a CET1 ratio of 14.3% and total capital ratio of 17.7%, bolstered by the successful placement of a EUR 125 million Green Tier 2 Bond. For the full year, ProCredit forecasts a 10% loan portfolio growth, a return on equity between 10-12%, and a CET1 ratio above 13%.