Brief: Procredit Q1 Consolidated Result Up At EUR 13.7 Mln

ProCredit Holding AG

14/05/2020 06:06

May 14 (Reuters) - PROCREDIT HOLDING AG & CO KGAA  PCZ.DE :
    * Q1 COST-INCOME RATIO IMPROVED SIGNIFICANTLY TO 64.6%
    * Q1 CONSOLIDATED RESULT OF EUR 13.7 MILLION WAS EUR 3.0
MILLION
ABOVE THAT OF SAME QUARTER OF PREVIOUS YEAR (Q1 2019 EUR 10.7
MILLION
    * FOR YEAR AS A WHOLE, MANAGEMENT CONFIRMS ITS FORECAST OF A
DECLINING BUT POSITIVE ROAE, AND A STABLE COST-INCOME RATIO OF
AROUND 70%.
    * IT IS EXPECTED THAT IN ACCORDANCE WITH PREVIOUS FORECAST,
COMMON
EQUITY TIER 1 CAPITAL RATIO (CET1 FULLY LOADED) WILL BE ABOVE
13% AT END OF 2020.
    * Q1 NET FEE AND COMMISSION INCOME FELL SLIGHTLY BY EUR 0.7
MILLION TO EUR 12.0 MILLION,
    * AT EUR 22.9 MILLION, Q1 PROFIT BEFORE TAX AND LOSS
ALLOWANCES
WAS EUR 5.1 MILLION OR 29% HIGHER THAN IN SAME QUARTER OF
PREVIOUS YEAR.
    * COMMON EQUITY TIER 1 CAPITAL RATIO (CET1 FULLY LOADED) AS
AT 31
MARCH 2020 WAS 14.0
    * COMMON EQUITY TIER 1 CAPITAL RATIO (CET1 FULLY LOADED) AS
AT 31
MARCH 2020 WAS 14.0%
    * EXPECTED THAT IN ACCORDANCE WITH PREVIOUS FORECAST, COMMON
EQUITY TIER 1 CAPITAL RATIO (CET1 FULLY LOADED) WILL BE ABOVE
13% AT END OF 2020
    * FOR YEAR AS A WHOLE, MANAGEMENT CONFIRMS ITS FORECAST OF A
DECLINING BUT POSITIVE ROAE, AND A STABLE COST-INCOME RATIO OF
AROUND 70%
    * CUSTOMER LOAN PORTFOLIO IS EXPECTED TO CONTINUE TO GROW IN
LOW
SINGLE-DIGIT PERCENTAGE RANGE IN 2020

Source text for Eikon:  ID:nEQ4pCGwPa 
Further company coverage:  PCZ.DE 

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