A bank with global affirmation of its sound business practices
Belgrade, 2 April 2021 - As in previous years, ProCredit Bank has once again received affirmation of its credit rating from FitchRatings, one of the largest global rating agencies. This confirms that the analysed risks at ProCredit Bank are at at low level.
ProCredit Bank Serbia’s credit rating has been assigned the highest grade that FitchRatings gives to companies operating in our country, that is BBB-. This confirms that we continue to operate under sound business practices, even during the pandemic, despite the fact that initial forecasts indicated the possibility that financial institutions operating in the Western Balkan market would face negative consequences. The Agency also pointed out PCB’s high quality assets, which are above the banking sector average.
A number of factors have influenced the excellent long-term rating of ProCredit Bank, which is currently at the highest possible level in Serbia. First of all, this is an adequate assessment of the business risks in our market, which is in no way simple, considering the fact that the domestic market is currently developing. Next, a high degree of expertise provided in support of the SMEs and Agri sectors, which are primarily associated with ProCredit Bank. Another contribution to these results is the recognisable corporate culture of the ProCredit Group, and the strong support we have from ProCredit Holding, seated in Frankfurt, as our sole shareholder.
- The sovereign rating our Bank received from FitchRating is evidence of the fact that even in challenging times we are able to successfully maintain high quality business practices and achieve business results. This is also deservedly a result of our innovation-oriented approach and full dedication to digitalisation. These two essential pillars of our business are actually the result of constant communication with clients, which have inevitably led to the best understanding of their needs and capabilities. Despite the exceptionally challenging market conditions resulting from the pandemic, a positive credit rating issued to ProCredit Bank in Serbia is a reason for optimism - emphasised Igor Anić, Chairperson of the Executive Board of ProCredit Bank.
Confirmation of the security and stability of ProCredit Bank's business model absolutely serves as a form of criteria when choosing a bank, and for existing clients as a guarantee that they have made the right choice.
