ProCredit Holding's H1 profit from SEE operations up 23% y/y

August 14 (SeeNews) - Germany's ProCredit Holding said on Monday that its profit from banking operations in Southeast Europe (SEE) rose by an annual 22.8% to 44.7 million euro ($48.9 million) in the first half of the year.

ProCredit Holding reported an increase in the return on equity (ROE) in the region to 13.2% during the review period, compared to 12.0% in the corresponding period of 2022, ProCredit Holding said in an interim financial statement.

The net interest income of ProCredit Holding's SEE units increased by 39% to 99.5 million euro in the first six months of the year, while their combined net fee and commission income rose 9.5% to 18.4 million euro.

The group increased its personnel and administrative expenses in SEE by 24.2% to 66.3 million euro in the period under review.

Compared to the end of 2022, the gross customer loan portfolio for the segment increased by 2.1% to 4.5 billion euro at the end of June, while customer deposits stood at 4.7 billion euro at the end of the first half, up from 4.6 billion euro at the end of 2022.

Across the region, ProCredit Holding owns commercial banks in Albania, Bosnia and Herzegovina, Bulgaria, Kosovo, North Macedonia, Moldova, Romania and Serbia.

($ = 0.913322 euro)