- Loan portfolio grows by 11.9% ytd amid a strong increase of client numbers
- Net interest income rises by 14.8% yoy; net interest margin expands by 15 basis points
- Increase in operating income of 10.6% outpaces increase in operating expenses; cost-income ratio improves by 2.4 pp yoy to 68.9%
- Profit attributable to shareholders amounts to EUR 65.4 million; RoTE at 8.4%
- FY 2026 outlook updated for selected metrics: loan portfolio growth expected at 14-15%, cost-income ratio 2-3 pp better than originally anticipated, CET1 ratio between 12.5% and 13.0%
The first nine months of 2026 marked a further step forward in the execution of ProCredit Group’s growth and transformation strategy as it led to strengthened financial performance. On the back of the strong and targeted loan portfolio growth achieved largely in higher-yielding client segments, the increase in operating income outpaced the increase in operating expenses. Net interest income benefitted from the strong loan portfolio growth and a strengthened net interest margin. Based on the performance during the first nine months and the expectations for the fourth quarter, the Management Board updated its FY 2026 outlook for selected metrics.
Strong and targeted loan portfolio growth continues
In the first nine months of 2026, the Group’s loan portfolio grew strongly by 11.9%, or EUR 924.1 million (9M 2025: 7.9% or EUR 556.0 million). Growth was strongest in the higher-yielding segments of loans to micro and small enterprises and consumer loans.
Customer deposits grew by 6.5%, or EUR 597.5 million (9M 2025: 4.0% or EUR 329.4 million).
The number of active clients across all segments increased by 12.9%, or around 43,000 (9M 2025: 10.5% or around 30,000). The upward trend from the first half of the year continued, with particularly strong dynamics in the micro segment.
Strong net interest income driving improved financial performance
Net interest income increased by 14.8% year-on-year to EUR 299.3 million (9M 2025: EUR 260.8 million). The increase was driven by strong growth of the loan portfolio and an expansion in net interest margin by 15 basis points year-on-year to 3.3% (9M 2025: 3.2%).
Net fee and commission income amounted to EUR 68.2 million, down 4.0% compared with the prior-year period (9M 2025: EUR 71.0 million). While net fee and commission income declined in Bulgaria following the introduction of the euro, it showed positive momentum across most banks in the Group.
Personnel and administrative expenses were at EUR 246.7 million, up 6.9% from the prior-year period (9M 2025: EUR 230.8 million). They were primarily driven by higher personnel expenses. This includes higher staff numbers in functions central to the execution of the retail and digital transformation strategy. With operating income increasing faster than operating expenses, the cost-income ratio improved to 68.9% (9M 2025: 71.3%).
Loss allowances stood at EUR 15.6 million. This corresponds to cost of risk of 25 basis points (9M 2025: EUR 16.9 million, 31 basis points). The quality of the loan portfolio has remained resilient, with the share of defaulted loans steady at 2.8% (Q4-2025: 3.0%).
Tax expenses increased by EUR 8.4 million to EUR 26.3 million (9M 2025: EUR 17.8 million), primarily reflecting the higher profit tax rate for banks in Ukraine, as highlighted in the Group’s 2026 outlook.
Profit of the period increased by EUR 11.3 million to EUR 69.5 million (9M 2025: EUR 58.2 million). This corresponds to a return on equity (RoE) of 7.9% (9M 2025: 7.4%). Profit attributable to shareholders amounted to EUR 65.4 million and return on tangible equity (RoTE) to 8.4% (9M 2025: 7.7%).
“Our results of the first nine months are a further step forward in our growth and transformation strategy: Our operating income is now growing faster than our operating expenses. This positive development is supported by the strong and targeted growth of our loan portfolio and the improvement in net interest margin. We remain focused on executing our strategy and are well on track to deliver on our 2029 ambitions,” said Eriola Bibolli, CEO of ProCredit Holding AG.
Stable capital position, FY 2026 outlook updated for selected metrics
The Group’s capital position remained stable. As of 30 September 2026, the Common Equity Tier 1 (CET1) ratio stood at 12.6% and the Tier 1 ratio at 14.5%.
Based on the performance in the first nine months and the expectations for the fourth quarter, the Management Board updated the 2026 guidance for selected metrics. Loan portfolio growth is now expected at 14-15% (for continued operations, assuming no significant foreign exchange volatility) and the cost-income ratio 2-3 percentage points better than originally anticipated (previously: around FY-25 level of 73.4%).
The Management Board continues to expect the return on equity to be around 7% for the 2026 financial year. A positive currency translation effect related to the planned ProCredit Bank Ecuador transaction, which had previously been anticipated in 2026, is now expected to materialise in 2027. Better-than-expected financial performance should partially compensate for this timing effect. The CET1 capital ratio at year-end 2026 is expected to be between 12.5% and 13.0%.
The ProCredit Group’s Quarterly Report as of 30 September 2026 is available as of today on the ProCredit Holding website under Investor Relations, at: https://www.procredit-holding.com/en/investor-relations/reports-publications/financial-reports. The financial calendar for ProCredit Holding can be found under Investor Relations, at: https://www.procredit-holding.com/investor-relations/financial-calendar.
9M 2026 results at a glance
in EUR m
Statement of Financial Position
| 30.09.2026 | 31.12.2025 | Change | |
| Loan portfolio | 8,676.5 | 7,752.5 | 924.1 |
| Deposits | 9,733.8 | 9,136.2 | 597.5 |
Statement of Profit or Loss
| 01.01. – 30.09.2026 | 01.01. – 30.09.2025 | Change | |
| Net interest income | 299.3 | 260.8 | 38.5 |
| Net fee and commission income | 68.2 | 71.0 | -2.8 |
| Operating income | 358.0 | 323.7 | 34.3 |
| Personnel and administrative expenses | 246.7 | 230.8 | 15.9 |
| Loss allowance | 15.6 | 16.9 | -1.3 |
| Profit of the period | 69.5 | 58.2 | 11.3 |
Key performance indicators
| 01.01. – 30.09.2026 | 01.01. – 30.09.2025 | Change | |
| Change in loan portfolio | 11.9% | 7.9% | 4.0 pp |
| Cost-income ratio | 68.9% | 71.3% | -2.4 pp |
| Return on equity (annualised) | 7.9% | 7.4% | 0.6 pp |
| 30.09.2026 | 31.12.2025 | Change | |
| Common Equity Tier 1 capital ratio | 12.6% | 13.1% | -0.5 pp |
Additional indicators
| 30.09.2026 | 31.12.2025 | Change | |
| Loan portfolio to deposits ratio | 89.1% | 84.9% | 4.3 pp |
| Net interest margin (annualised) | 3.3% | 3.2% | 0.2 pp |
| Cost of risk (annualised) | 25 bp | 15 bp | 10 bp |
| Share of defaulted loans | 2.8% | 3.0% | -0.2 pp |
| Stage 3 loans coverage ratio | 41.3% | 44.5% | -3.2 pp |
| Green loan portfolio (in EUR m) | 1,414.6 | 1,419.6 | -0.4% |
| 01.01. – 30.09.2026 | 01.01. – 30.09.2025 | Change | |
| Return on tangible equity (annualised)* | 8.4% | 7.7% | 0.7 pp |
*Profit attributable to ProCredit shareholders, divided by the average tangible shareholders’ equity.
Contact:
Petra Vielhaber, Group Communications, ProCredit Holding, tel.: +49 69 95 14 37 249, mobile: +49 171 686 5932, e-mail: petra.vielhaber@procredit-group.com
About ProCredit Holding AG
ProCredit Holding AG, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit group, which consists of commercial banks for micro, small and medium enterprises (MSMEs) as well as private individuals, fostering economic, ecological and social development. 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 main shareholders of ProCredit Holding AG include Zeitinger Invest GmbH, KfW, the Dutch DOEN Participaties BV, the European Bank for Reconstruction and Development and ProCredit Staff Invest GmbH & Co. KG. As the Group’s superordinated company according to the German Banking Act and as the parent financial holding company of the ProCredit financial holding Group, ProCredit Holding AG is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. For additional information, visit: https://www.procredit-holding.com/
Forward-looking statements
This press release contains statements relating to future business development and/or future financial performance and/or future actions and/or developments affecting ProCredit Holding (forward-looking statements). Such forward-looking statements are based on the Management of ProCredit Holding’s current expectations and specific assumptions, which are partly beyond the control of ProCredit Holding. The forward-looking statements are therefore subject to a multitude of uncertainties. Should one or more of these uncertainties materialise, or should underlying expectations or assumptions prove inapplicable, then the actual conditions (both negative and positive) may differ significantly from those expressed or implied in the forward-looking statement. Beyond mandatory legal requirements, ProCredit Holding does not undertake any obligation to update these forward-looking statements or to correct them.