The ProCredit group reports strong financial results at the end of Q3 2021
The ProCredit group, which is mainly active in South Eastern and Eastern Europe, reports good results at the end of the third quarter of the current financial year.
As expected, growth in the customer loan portfolio was strong at EUR 549 million or 10.4% since the beginning of the year. The consolidated result increased by 86% to EUR 62.0 million thanks to increased operating income and lower risk costs. With an annualised return on equity of 10.1%, the group has taken an important step towards achieving its current medium-term target of a sustained profitability level of approximately 10%.
“The group financial and business results are very promising,” says ProCredit Management. “We see our SME clients across our South Eastern and Eastern European markets emerging relatively strongly from the pandemic. We are encouraged by the fact that investments in green technologies remains our fastest growing segment. Now more than ever there is awareness that emerging markets need to develop economically without driving climate change and biodiversity loss. Thanks to our comprehensive approach towards credit risk, which also considers the environmental and social impact of our clients, we feel very well-placed to continue to support SMEs to make this transition. These sound financial results are particularly pleasing in this respect, as they demonstrate more than ever that financial success is well compatible with sustainable action,” was announced.
ProCredit group’s quarterly report as at 30 September 2021 is available on the ProCredit Holding website. It is available in the Investor Relations section.