DGAP-Ad-hoc: ProCredit Holding AG & Co. KGaA / Key word(s): Change in Forecast
ProCredit Holding AG & Co. KGaA raises forecast for 2017 financial year
Frankfurt am Main, 7 July 2017 - The Management Board of ProCredit General Partner AG (the personally liable managing partner of ProCredit Holding AG & Co. KGaA) raised ProCredit Holding's forecast for growth of the customer loan portfolio during the 2017 financial year on the basis of preliminary figures for the first half of the year. The grounds for adjusting the forecast were the operational performance during the first half of the year, which was substantially better than anticipated at the start of the period, and the expectation that performance will continue to be good in the second half of 2017.
Initially, it was expected that overall customer loan portfolio net growth would range between 5% and 8% during the 2017 financial year. The Management Board now expects the net growth of the overall customer loan portfolio in 2017 to be above 8%. Growth in the core segment of loans over EUR 30,000 had been expected to be around 10% in the 2017 financial year. Growth in this core segment is now forecast to be above 10% in 2017. The Management Board will define the forecast in greater detail after a complete review of the figures for the first half of 2017.
The forecasts for return on equity (RoE) and the CET1 capital ratio remain unchanged. The RoE for the 2017 financial year is expected to range between 7% and 9%. The CET1 capital ratio is expected to be above 13% after the sale of the institutions in El Salvador and Nicaragua.
ProCredit Holding AG & Co. KGaA's report on the first half of 2017 is scheduled for publication on 14 August 2017.
Information and Explanation of the Issuer to this News:
Andrea Kaufmann, Group Communications, ProCredit Holding, Tel.: +49 69 951 437 138,
Nadine Frerot, Investor Relations, ProCredit Holding, Tel.: +49 69 951 437 285,
The ProCredit group
ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the international ProCredit group, which consists of banks for small and medium enterprises (SMEs) and whose operational focus is on South Eastern and Eastern Europe. In addition to this regional focus, the ProCredit group is also present in South America and Germany. The company's shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (comprising the investment vehicles for ProCredit staff), the Dutch DOEN Participaties BV, KfW Development Bank and IFC (part of the World Bank Group). As the group's superordinated company according to the German Banking Act, ProCredit Holding AG & Co. KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. For additional information, visit www.procredit-holding.com.
07-Jul-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||ProCredit Holding AG & Co. KGaA|
|60486 Frankfurt am Main|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
590853 07-Jul-2017 CET/CEST