ProCredit Holding AG & Co. KGaA: Annual General Meeting approves dividend proposal of EUR 0.27 per share

German version (pdf)

ProCredit Holding AG & Co. KGaA (ProCredit Holding), based in Frankfurt am Main, Germany, which is the parent company of the development-oriented ProCredit group consisting of commercial banks for small and medium enterprises (SMEs) and whose operational focus is on South Eastern and Eastern Europe, held its ordinary Annual General Meeting yesterday, the second since its listing on the Frankfurt Stock Exchange’s Prime Standard.

Among other items, the agenda included the decision on the appropriation of earnings, the ratification of the acts of the Management Board and Supervisory Board and approval of the appointment of the auditor for the current financial year. All items on the agenda were approved with a very clear majority.

Borislav Kostadinov, member of the Management Board of ProCredit General Partner AG (sole liable managing entity of ProCredit Holding AG & Co. KGaA): “The ProCredit group has been profitable every year since 2003. It is important to us that our shareholders benefit from the good results of the ProCredit group. With a dividend of EUR 0.27 per share, we remain true to our target and will once again distribute part of last year’s net profit to our shareholders”.

In his speech, Borislav Kostadinov also emphasised that 2017 can be regarded as the last year of transition as the ProCredit group embarks on a period of accelerated loan portfolio growth. In the first quarter of 2018, the first fruits of the efficiency measures implemented last year were also reaped with an improvement in consolidated earnings from EUR 11.9 million in the corresponding quarter of the previous year to EUR 14.6 million. Over the year as a whole, ProCredit expects its gross loan portfolio to grow by 12 – 15% and the return on equity is expected to increase to 7.5 – 8.5% compared to the 7.1% achieved in fiscal year 2017.

The results of the voting on the individual agenda items as well as further information on the Annual General Meeting will be published on the company’s website at https://www.procredit-holding.com/investor-relations/annual-general-meeting/

Contact:
Andrea Kaufmann, Group Communications, ProCredit Holding, Tel.: +49 69 951 437 138,
E-mail: Andrea.Kaufmann@procredit-group.com


About ProCredit Holding AG & Co. KGaA
ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit group, which consists of commercial banks for small and medium enterprises (SMEs). In addition to its operational focus on South Eastern and Eastern Europe, the ProCredit group is also active in South America and Germany. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (the investment vehicle for ProCredit staff), the Dutch DOEN Participaties BV, KfW Development Bank and IFC (part of the World Bank Group). As the group’s superordinated company according to the German Banking Act, ProCredit Holding AG & Co. KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. Further information is available on our website: www.procredit-holding.com.

Forward-looking statements
This report contains forward-looking statements. Forward-looking statements are statements that do not describe past events. They include statements on the assumptions and expectations of ProCredit Holding as well as underlying assumptions. These statements are based on the plans, estimates and forecasts currently available to the Management of ProCredit Holding. Forward-looking statements therefore pertain solely to the date on which they are made. ProCredit Holding undertakes no obligation to update these statements in the event of new information or future events. Forward-looking statements naturally involve risks and uncertainties. A number of important factors can contribute to the fact that actual results may differ materially from forward-looking statements. These factors could include major disruptions in the Eurozone, a significant change in foreign trade or monetary policy, a worsening of the interest rate margin or pronounced exchange rate fluctuations. Should any of these factors arise, the impact could be manifested in decreased loan portfolio growth and an increase in past-due loans, and thus results in lower profitability.