Brief: Procredit Q1 Result At EUR -1.7 Mln

ProCredit Holding AG

12/05/2022 06:09

May 12 (Reuters) - PROCREDIT HOLDING AG & CO KGAA  PCZ.DE :
    * ACHIEVES GOOD BUSINESS DEVELOPMENT AND IMPROVES
PROFITABILITY AT
NEARLY ALL BANKS, ALTHOUGH PROVISIONS FOR UKRAINIAN OPERATIONS
DRIVE NEGATIVE Q1 2022 RESULT
    * Q1 RESULT OF EUR -1.7 MILLION DRIVEN BY EUR 35.3 MILLION
PROVISIONS FOR UKRAINIAN LOAN PORTFOLIO
    * Q1 COST-INCOME RATIO IMPROVES BY 5.7 PERCENTAGE POINTS TO
59.1%
AS OPERATING INCOME INCREASES BY 24% COMPARED TO Q1 2021
    * Q1 OPERATING INCOME INCREASED BY A STRONG EUR 14.8 MILLION
OR
23.6% TO A LEVEL OF EUR 77.7 MILLION (Q1 2021: EUR 62.8 MILLION)
    * Q1 NET INTEREST INCOME INCREASED BY EUR 10.9 MILLION OR
22.1% TO
EUR 60.2 MILLION (Q1 2021: EUR 49.3 MILLION)
    * Q1 AT EUR 12.6 MILLION, NET FEE AND COMMISSION INCOME WAS
5.5%
ABOVE PREVIOUS YEAR'S LEVEL (Q1 2021: EUR 12.0 MILLION)
    * Q1 COMMON EQUITY TIER 1 CAPITAL RATIO (CET1 FULLY LOADED)
AS OF
END OF Q1 OF 2022 STOOD AT 13.4% AND LEVERAGE RATIO AT 9.2

Source text for Eikon:  ID:nEQZtD9la 
Further company coverage:  PCZ.DE 

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