ProCredit Holding AG & Co. KGaA Announces Financial Results for the Year 2016; Announces Executive Changes; Provides Financial Guidance for 2017
March 28, 2017
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ProCredit Holding AG & Co. KGaA announced financial results for the year 2016. For the year, the company reported profit after tax from continuing business operations improved, reaching EUR 47.0 million, up 22.6% from the previous year as compared to EUR 38.4 million. On the one hand, this was made possible by a decrease in the amount required for credit risk provisioning. Including the discontinued business operations, the consolidated profit after tax of EUR 61.0 million was similar to the previous year's result as compared to EUR 61.3 million. In 2016 the net interest income in the Continuing business operations fell by 11.5% relative to the previous year to EUR 230.8 million from EUR 260.7 million a year ago period.
The company announced that Sandrine Massiani was appointed to the Management Board of ProCredit General Partner and to the Management of ProCredit Holding, effective as of 1 March 2017. Before she came to ProCredit, she spent seven years in financial management at BNP Paribas. At ProCredit Holding her main areas of responsibility include HR and IT. Helen Alexander's term as a member of the Management Board ends as planned on March 31, 2017 on the best of terms and under mutual agreement. Dr. Claus-Peter Zeitinger, Chairman of ProCredit. Ms. Alexander will continue to be an active employee of the ProCredit group.
In 2017 the Management of ProCredit Holding expects the group's gross loan portfolio to experience net growth of between 5% and 8%. The RoAE is expected to be between 7% and 9%. After the transactions concerning the discontinued business operations have been concluded, the CET1 capital ratio is expected to exceed 13%.
ProCredit Holding AG is a Germany-based company, formerly known as ProCredit Holding AG & Co KGaA, and is primarily engaged in the financial services industry. The activities of the ProCredit group comprise the financing of Small and Medium-sized Enterprises (SMEs) and direct banking for private clients. The Company provides provision of equity and debt financing, strategic guidance and supervision, ensuring that all ProCredit institutions have appropriate organisational structures and procedures in place, and that they apply appropriate standards for risk management and the prevention of money laundering, fraud and the financing of terrorism. It sets the overall policy guidelines and standards regarding all key areas of banking operations and involved in staff management and training. The Company offers development and delivery of curricula at the central ProCredit Academy in Fuerth. It operates in South Eastern Europe, Eastern Europe, South America and Germany.
PROCREDIT HOLDING AG 
