ProCredit Holding (PCB) grew its gross loan book by 4.4% in Q220 by seizing the opportunity that arose from the more subdued activity of its competitors amid the pandemic. As a result, management now expects FY20 growth of 8–10% (we assume 9.3%). However, its net interest margin (NIM) fell to 2.9% in Q220 vs 3.1% in Q219 due to widespread rate cuts by local central banks and higher lending activity in the upper medium segment of the SME market. Cost of risk (67bp in H120) remained in li
21 Aug 2020
ProCredit Holding - Actively seeking to expand client base
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ProCredit Holding - Actively seeking to expand client base
ProCredit Holding (PCB) grew its gross loan book by 4.4% in Q220 by seizing the opportunity that arose from the more subdued activity of its competitors amid the pandemic. As a result, management now expects FY20 growth of 8–10% (we assume 9.3%). However, its net interest margin (NIM) fell to 2.9% in Q220 vs 3.1% in Q219 due to widespread rate cuts by local central banks and higher lending activity in the upper medium segment of the SME market. Cost of risk (67bp in H120) remained in li