ProCredit Holding (PCB) continued to report good progress in realising its scaling potential with FY21 ROE of 9.7% versus 6.9% in FY19. Despite the risk of a global recession, we believe that monetary tightening (supporting PCB’s net interest margin) and a relatively favourable, regional mid-term outlook should translate into healthy earnings growth in its South-Eastern (SEE) segment (c 70% of PCB’s loan book at end-March 2022). Having said that, the war in Ukraine will weigh on PCB’s local bank ....
01 Jul 2022
ProCredit Holding - Long-term story remains intact despite the war
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
ProCredit Holding - Long-term story remains intact despite the war
ProCredit Holding (PCB) continued to report good progress in realising its scaling potential with FY21 ROE of 9.7% versus 6.9% in FY19. Despite the risk of a global recession, we believe that monetary tightening (supporting PCB’s net interest margin) and a relatively favourable, regional mid-term outlook should translate into healthy earnings growth in its South-Eastern (SEE) segment (c 70% of PCB’s loan book at end-March 2022). Having said that, the war in Ukraine will weigh on PCB’s local bank ....