Procredit Holding Ag · XETR:PCZ
Procredit — Q1 2026 Earnings Presentation
47 slides from Procredit's earnings presentation, May 13, 2026
Slide 1: Q1 2025 results
Hubert Spechtenhauser, Chairman of the Management Board Christian Dagrosa, CFO and member of the Management Board Q1 2025 results Frankfurt am Main, May 2025
Slide 2: A. Highlights and business update; B. Group results
A. Highlights and business update B. Group results ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 1
Slide 3: Q1 2025: Good start into the year
Q1 2025: Good start into the year Group advances on its growth and transformation strategy: loan growth across all client segments; lower-volume segments and smaller ProCredit banks contribute strongly Good level of profitability maintained in Q1: €25m net result or 9.5% RoE C/I ratio temporarily hi
Slide 4: Q1 2025 at a glance
Q1 2025 at a glance Customer loans Customer deposits Stage-3 ratio +2.5% -0.7% 2.2% Loan portfolio €7.2bn Customer deposits €8.2bn -0.1 pp ytd FX-adjusted: +3.2% FX-adjusted: -0.4% Net result RoE CET1 ratio €25.2m 9.5% 13.1% based on 70.8% C/I ratio and Group w/o SA: 10.4% +0.1 pp ytd -5 bps cost of
Slide 5: Q1 continues path on executing group strategic priorities
Q1 continues path on executing group strategic priorities 2024: significant step on our growth trajectory Balance sheet transformation continued in Q1 • New strategy communicated at Capital Markets Day in Mar-24, Smaller >70% 3.4% positioning ProCredit as segments/ of loan growth average loan grow
Slide 6: Macro outlook for the region
Macro outlook for the region Positive growth outlook and increased international focus on SEE/EE GDP outlook for SEE/EE well above Euro area Macroeconomic environment / key current themes • Strong growth outlook and resilience of SEE/EE region supported by April 2025 IMF update 2025 2026 2027 - 30 •
Slide 7: Outlook FY 2025
Outlook FY 2025 Continued strong focus on strategy execution FY 2025 outlook Around 12% ► Growth of the loan portfolio Assuming no significant FX volatility Around 10% ► Return on equity (RoE) Based on continued low cost of risk Around FY-24 level ► Cost-income ratio (CIR) Due to further strong inve
Slide 8: ProCredit's medium-term ambitions
ProCredit’s medium-term ambitions Medium-term guidance Target operating model >€10bn loan portfolio (based on significant growth Leading bank for MSMEs in our region in # of clients) Return on equity ~13-14% (w/o ~1.5pp upside potential Attractive bank for private clients with superior customer expe
Slide 9: A. Highlights and business update; B. Group results
A. Highlights and business update B. Group results ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 8
Slide 10: Strong portfolio growth driven by all client segments
Strong portfolio growth driven by all client segments Loan portfolio growth ► Customer loans increase by EUR 174m or 2.5% despite negative fx effects, underscoring group strategy for strong and 12.0% YoY granular growth 2.5% QoQ Fx-adjusted growth of EUR 222m or 3.2% 7,184 Lower- 7,010 6,226 6,414
Slide 11: Strong deposit development through digital banking channels
Strong deposit development through digital banking channels Deposit growth ► Customer deposits reduce by EUR 55m or 0.7% 10.5% YoY Seasonal effects from economic cycle in countries of -0.7% QoQ operation leading to reductions of business client current 8,291 accounts after strong increase in Q4-24
Slide 12: Operating income and expense overview
Operating income and expense overview Operating income ► Operating income at EUR 105.6m broadly stable yoy, as higher 7.7% -1.5% net fee and net other operating income partially offset reduction in net interest income 444.3 412.5 NII reduced by EUR 5.1m yoy due to declined policy rates and green T
Slide 13: Net interest income
Net interest income Quarterly development ► NII in Q1 at EUR 85.0m with NIM at 3.2% EUR 3.7% 3.6% 3.5% 3.3% 3.2% EUR 2.7m below previous quarter; NIM reduced by 16 bps Days-effect major driver for reduced interest income (EUR 3.9m or 2.6%) and interest expenses (EUR 1.2m or 1.9%) 90.1 90.5 90.0
Slide 14: Net fee and commission income
Net fee and commission income Quarterly development ► Q1 net fee and commission income of EUR 22.6m 23.2 24.3 23.0 22.6 Seasonal effects from lower transactions in Q1 drive 21.0 decrease of EUR 1.8m with respect to Q4-24 8.0 8.3 9.2 7.0 8.6 ► Net fee and commission income up EUR 1.5m or 7.2% yoy (
Slide 15: Personnel and administrative expenses
Personnel and administrative expenses Quarterly development ► Q1 personnel and administrative expenses of EUR 74.7m, 75.4% 85.0%lower than in previous two quarters 68.8% 70.8% 66.3% 75.0% 61.7% 65.0% Underlying dynamics of strategic investments increasingly 55.0% levelling out, with staff numbers b
Slide 16: Loss allowance
Loss allowance Quarterly development ► Q1 loss allowance with net release of EUR 0.8m Low risk costs across the group 2 bps 33 bps -10 bps -54 bps -5 bps In part driven by healing from stage 2 loans (in EUR m) Recoveries from w/o loans of EUR 2.9m remain major factor in low cost of risk 0.3 5.
Slide 17: Loan portfolio quality
Loan portfolio quality Loan portfolio by geography Net-write offs (annualised) Ecuador Germany 1% Moldova 6% 0.0% 0.2% 0.2% 0.2% -0.1% Bulgaria 3% 20% Georgia 6% Ukraine 7% Stage 2 Albania Serbia 5% 14% 8.6% 8.2% 8.2% 8.1% 8.1% Bosnia & Herzegovina 5% Kosovo Greece 1 6% 13% Romania Macedonia 6% 8% Q
Slide 18: Contribution of regional segments to group net result
Contribution of regional segments to group net result Group functions, e.g. risk management, reporting, capital management, IT, liquidity management, training and development Includes ProCredit Holding, Quipu, ProCredit Academy Fürth, PCB Germany (EUR 34m loan portfolio; EUR 255m deposits) 9.4 -7.8
Slide 19: Regulatory capital, risk-weighted assets, capital ratios
Regulatory capital, risk-weighted assets, capital ratios Capitalisation overview in EUR m Dec-24 Mar-25 ► CET1 ratio at 13.1% including recognition of H2-24 CET1 capital 933 952 result Additional Tier 1 capital 0 0 Tier 1 capital 933 952 Capital ratios well above regulatory capital Tier 2 capital
Slide 20: Q&A
Q&A ProCredit Academy, Fürth-Weschnitz, Germany 19
Slide 21: Appendix A. Impact reporting
Appendix A. Impact reporting B. P&L and balance sheet C. Loan portfolio D. Information on segment and bank level E. Capital, liquidity and other information ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 20
Slide 22: Impact at ProCredit today
Impact at ProCredit today Fostering economic growth, environmental protection and social progress Economic Environmental Social ~200k 62% ~20% Net-zero Extensive ~20% jobs supported of our business green loans for SBTi(2) commitment by our MSME loans for renewable energy & to net-zero training of ou
Slide 23: 2024 sustainability highlights
2024 sustainability highlights INTERNAL DECARBONIZATION BUSINESS LOAN JOBS SUPPORTED EMPLOYEES ENVIRONMENTAL CLIENTS THROUGH OUR INDICATORS 37,690 BUSINESS CLIENTS total number of 61% 10,143 business loan clients 4,689 total number of employees 197,111* electric and hybrid total number of green loan
Slide 24: Strong impact track record over the decades
Strong impact track record over the decades Network of Opening of the EV CHARGING Establishment of Published OUR RESPONSE ProCredit academies STATIONS installed ProCredit as a ON FORCED LABOUR ALLEGATIONS related to First DEI STRATEGY BANKING GROUP GREEN LOANS Joined the photovoltaic panel productio
Slide 25: Impact in ProCredit today
Impact in ProCredit today KPI: Jobs ~200k jobs supported by our MSMEs Jobs and investment KPI: Investment 62% of our business lending goes to Social capital formation impact KPI: Gender Equity Diversity and ~20% of our loan clients are inclusion women owned MSMEs Sustainability at ProCredit Green en
Slide 26: Appendix B. P&L and balance sheet
Appendix A. Impact reporting B. P&L and balance sheet C. Loan portfolio D. Information on segment and bank level E. Capital, liquidity and other information ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 25
Slide 27: Q1 2025 results at a glance
Q1 2025 results at a glance In EUR m Q1-24 Q1-25 Y-o-Y Net interest income 90.1 85.0 -5.1 Net fee and commission income 21.0 22.6 1.5 Other operating income (net) -3.9 -1.9 2.0 Operating income 107.2 105.6 -1.6 Income Personnel expenses 32.2 38.1 5.8 statement Administrative expenses 33.9 36.7 2.8 L
Slide 28: Overview of quarterly financial development
Overview of quarterly financial development In EUR m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Net interest income 90.1 90.5 90.0 87.7 85.0 Net fee and commission income 21.0 23.2 23.0 24.3 22.6 Other operating income (net) -3.9 -1.2 -2.0 1.6 -1.9 Operating income 107.2 112.6 111.0 113.6 105.6 Income Personnel
Slide 29: Balance sheet
Balance sheet in EUR m Dec-24 Mar-25 Assets Cash and central bank balances 2,164 1,946 Loans and advances to banks 514 458 Investment securities 966 992 Loans and advances to customers 7,010 7,184 Loss allowance for loans to customers -182 -181 Derivative financial assets 7 7 Property, plant and equ
Slide 30: Balance sheet development
Balance sheet development YTD asset development YTD liabilities and equity development 10,752 175 13 10,693 10,752 3 17 10,693 -55 -5 -19 -247 (in EUR m) (in EUR m) Dec-24 Liquid assets Net loans to customers Other Mar-25 Dec-24 Liabilities to Liabilities to Debt securities and Other liabilities Equ
Slide 31: Appendix C. Loan portfolio
Appendix A. Impact reporting B. P&L and balance sheet C. Loan portfolio D. Information on segment and bank level E. Capital, liquidity and other information ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 30
Slide 32: Structure of the loan portfolio by segment and currency
Structure of the loan portfolio by segment and currency Loan portfolio by segment Loan portfolio by currency 12% 4% 41% 49% 55% 29% 10% Medium Small Micro Private clients EUR USD Other Currencies ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 31
Slide 33: Development of green loan portfolio
Development of green loan portfolio Green loan portfolio growth ► Green loan portfolio amounting to EUR 1.4bn, representing 16.6% 19.0% ~19% of total loan portfolio CAGR 2019-2024: 14% ► Includes financing of investments in: • Energy efficiency 1,363 • Renewable energies (in EUR m) • Other environme
Slide 34: Structure of collateral
Structure of collateral Collateral by type (FY 2024) ► Majority of collateral consists of mortgages ► Significant share of financial guarantees mainly as a result of InnovFin and other guarantee programmes provided by the European Investment Fund 2% 15% ► Clear, strict requirements for types of acce
Slide 35: Appendix D. Information on segment and bank level
Appendix A. Impact reporting B. P&L and balance sheet C. Loan portfolio D. Information on segment and bank level E. Capital, liquidity and other information ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 34
Slide 36: Income statement by segment
Income statement by segment South Eastern 01.01.- 31.03.2025 (in EUR m) Germany Eastern Europe South America Consolidation Group Europe Interest and similar income 11.0 40.4 85.9 14.3 -7.5 144.0 of which inter-segment 4.8 1.3 1.3 0.0 0.0 0.0 Interest and similar expenses 13.5 17.8 24.8 10.4 -7.5 59.
Slide 37: Segment South Eastern Europe
Segment South Eastern Europe Key financial data Segment key financials SEE (in EUR m) Q1-24 Q1-25 Operating income (€m) Cost-income ratio Net interest income 59.4 61.1 +7% +4.3pp Net fee and commission income 13.1 14.3 71.0 76.2 59.4% 55.1% Other operating income (net) -1.4 0.8 Operating income 71.0
Slide 38: Segment Eastern Europe
Segment Eastern Europe Key financial data Segment key financials EE (in EUR m) Q1-24 Q1-25 Operating income (€m) Cost-income ratio Net interest income 25.5 22.6 -11% +17.5pp Net fee and commission income 3.8 3.7 63.1% 29.3 Other operating income (net) 0.0 -0.2 26.0 45.6% Operating income 29.3 26.0 P
Slide 39: Segment South America
Segment South America Key financial data Segment key financials SA (in EUR m) Q1-24 Q1-25 Operating income (€m) Cost-income ratio Net interest income 4.4 3.8 -28% +29.1pp Net fee and commission income 0.1 0.4 4.9 152.6% Other operating income (net) 0.4 -0.7 123.5% 3.5 Operating income 4.9 3.5 Person
Slide 40: Key figures per ProCredit bank
Key figures per ProCredit bank (as per Q1-25) North Bosnia & Country Bulgaria Serbia Kosovo Romania Macedonia Herzegovina Customer loan portfolio (EUR m) 1,816 1,002 935 585 440 365 Change in customer loan portfolio (%) 2.6% 2.3% 6.1% 5.5% 3.7% 3.5% Credit impaired loans (Stage 3) 1.1% 2.9% 1.0% 1.4
Slide 41: Key figures for ProCredit Bank Ukraine
Key figures for ProCredit Bank Ukraine Development since 2021, before Russian invasion in 2022 Quarterly KPI update Q4-24 Q1-25 (in EUR m) FY-21 FY-22 FY-23 FY-24 Staff information Selected financial indicators Number of staff 389 396 Loan portfolio 757 582 497 512 Change qoq % 3.2% 1.8% % of group
Slide 42: Update on ProCredit Bank Ukraine
Update on ProCredit Bank Ukraine (Q4-24 presentation) ProCredit Holding increases capital of ProCredit Bank Ukraine by EUR 20m UPDATE UKRAINE Insured by the Federal Government of Germany and resulting in strengthened positioning for any potential upside scenario Summary and key considerations: Succe
Slide 43: Appendix E. Capital, liquidity and other information
Appendix A. Impact reporting B. P&L and balance sheet C. Loan portfolio D. Information on segment and bank level E. Capital, liquidity and other information ProCredit Group | Q1 2025 results | Frankfurt am Main, 12 May 2025 42
Slide 44: Funding, rating and liquidity
Funding, rating and liquidity Funding sources Liquidity coverage ratio (LCR) and NSFR 1% 3% 1% 158% 154% 147% 178% 174% 168% 10% Customer deposits Liabilities to banks 100% 100% 100% Debt securities Subordinated debt Other liabilities 85% Dec-23 Dec-24 Mar-25 Total liabilities: EUR 9.6 bn LCR Regula
Slide 45: Explanatory note on performance indicators and ratios
Explanatory note on performance indicators and ratios The ProCredit group uses an integrated system of indicators to monitor and The credit-impaired coverage ratio(8) gives insights into loss allowances for manage the implementation and further development of the group’s business credit-impaired l
Slide 46: Contact Investor Relations
Contact Investor Relations Financial calendar (continuously updated on IR Website) Date Location Event information 13.05. – 14.05.2025 Frankfurt/ Main Spring Conference 2025 04.06.2025 Frankfurt/ Main Annual General Meeting 14.08.2025 Interim Report as of 30 June 2025 27.08.2025 Hamburg Hamburger In
Slide 47: Disclaimer
Disclaimer The material in this presentation and further supporting documents have been This presentation and further supporting documents may contain forward- prepared by ProCredit Holding AG, Frankfurt am Main, Federal Republic of looking statements, including statements regarding our intent, beli