ProCredit Holding AG (OTCPK:PRRCF)
$ 9.29 0 (0%) Market Cap: 504.22 Mil Enterprise Value: -1.33 Bil PE Ratio: 4.50 PB Ratio: 0.46 GF Score: 73/100
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Q3 2024 ProCredit Holding AG Earnings Call Transcript

Nov 14, 2024 / 03:00 PM GMT
Release Date Price: $9.29

Key Points

Positve
  • ProCredit Holding AG (XTER:PCZ) achieved a top line growth of 9% in the first nine months of 2024, with significant contributions from smaller banks in Albania, Moldova, Bosnia, Georgia, and Romania.
  • The company reported a return on equity of 11.3%, which was within their expectations for the year.
  • The cost of risk remained low at eight basis points, with a defaulted loan ratio of 2.3%, indicating strong portfolio quality.
  • ProCredit Holding AG (XTER:PCZ) successfully increased the share of deposits from private clients to more than 50%, with a 10.4% growth in this segment.
  • The company is on track to achieve its medium-term targets, with a strong focus on growing its loan portfolio in lower volume segments and funding growth through local deposits.
Negative
  • The cost income ratio increased to 65.7%, driven by strategic investments in growth catalysts, leading to visible cost increases.
  • ProCredit Holding AG (XTER:PCZ) faces headwinds in Ukraine and Ecuador, with macroeconomic challenges affecting their operations in these regions.
  • The anticipated tax hike in Ukraine could negatively impact the company's return on equity, potentially reducing it to around 10%.
  • In Ecuador, the company is dealing with a challenging market environment due to a catastrophic drought, energy crisis, and deteriorating security situation.
  • Net interest margins are under pressure due to negative pricing effects and higher refinancing costs, particularly in Ukraine and Ecuador.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PCZ.DE - ProCredit Holding AG
Q3 2024 ProCredit Holding AG Earnings Call
Nov 14, 2024 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you to a Qs for organizing this call and a warm welcome to everybody on this call on the quarter three results of 2024 for the pro Credit Group.

My name is Pton Haer.

I'm the Chairman of the management board.

As always, I'm joined by Christian Degoa, our Chief Financial Officer.

We plan some 30 minutes to cover today's presentation which has been available since earlier today on our website.

We will of course give sufficient time for any questions you may have.

Let me also provide you with the usual warning to pay particular attention to the cautionary statements regarding forward-looking comments that you will find at the end of the results presentation, we have the
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