May 15 (SeeNews) - ProCredit Holding said on Tuesday that the after-tax profit of its development-oriented commercial banks operating in Southeast Europe (SEE) edged down to 12.8 million euro ($15.2 million) in the first quarter of 2018 from 13.2 million euro in the prior-year period.
Southeast Europe is the Frankfurt-listed banking group's largest segment.
The net interest income after allowances of ProCredit Holding's banks in SEE totalled 29.9 million euro in January-March, which compares to 33.2 million euro in the like period of 2017, ProCredit Holding said in an interim financial statement.
The net fee and commission income of ProCredit Holding's SEE banks rose to 8.0 million euro in the first three months of 2018 from 7.4 million euro the year before.
ProCredit Holding's SEE banks cut their operating expenses to 25.0 million euro in the first quarter from 25.8 million euro a year earlier.
Customer deposits totalled 2.46 billion euro at the end of March, 57.8 million euro less compared to the end of 2017, while customer loans increased by 65.7 million euro year-on-year to 2.82 billion euro at the end of March.
The share of credit-impaired loans of ProCredit Holding's SEE banks decreased to 4.2% at the end of March, down 0.3 percentage points compared to the end of 2017.
($ = 0.8392 euro)
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