November 14 (SeeNews) - Germany's ProCredit Holding said on Wednesday that its profit from banking operations in Southeast Europe (SEE), the group's biggest segment, fell by an annual 7.1% to 30.6 million euro ($34.5 million) in the January-September period.
The result translates into a return on equity (ROE) of 8.5% in the review period, down from 10.9% in the comparable period of 2017, ProCredit Holding said in an interim financial statement.
The net interest income of ProCredit Holding's SEE units decreased by 13.1% to 86 million euro in the first nine months of the year, while their combined net fee and commission income rose 2.8% to 25.5 million euro.
The group cut its operating expenses in SEE by 4.3% to 74.3 million euro in the period under review.
Compared to the end of 2017, the gross customer loan portfolio for the segment increased by 8.2% to 3 billion euro at the end of September, while customer deposits added 3.3% to 2.6 billion euro.
The share of credit-impaired loans of ProCredit Holding's SEE units fell notably, to 3.5% at the end of September from 4.5% at the end of 2017.
Across the region, ProCredit Holding owns commercial banks in Albania, Bosnia and Herzegovina, Bulgaria, Kosovo, Macedonia, Moldova, Romania and Serbia.
($ = 0.8862 euro)
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