Frankfurt am Main, 30 May 2023 - On the basis of the strong financial result in the first quarter and due to the ongoing positive development of key earnings drivers, the Management Board of ProCredit General Partner AG decided today to raise the guidance for the group's return on equity and cost-income ratio in the current 2023 financial year as follows:

The Management Board now expects a return on equity of 8% to 10% and a cost-income ratio of 62% - 64% for the 2023 financial year. The guidance for return on equity is now based on an assumed cost of risk of up to 45 basis points.

In the report on expected developments included in ProCredit Holding’s consolidated financial statements for the 2022 financial year, the Management Board published a guidance for return on equity of 6.0% to 8.0% and a cost-income ratio at the previous year’s level of 64.0% (with a range of plus/minus 1%). The guidance for return on equity was based on an assumed cost of risk of up to 70 basis points.

The newly raised guidance continues to be subject to adverse assumptions for the remainder of the year, in particular to continue to take into account the ongoing combat activities in Ukraine and the associated uncertainties.

The outlook for loan portfolio growth in the mid-single-digit percentage range, a CET1 ratio of over 13% and a leverage ratio of around 9% were confirmed in the course of these adjustments. For the purpose of calculating the capital ratios, one-third of the interim profits for the financial year are to be set aside for a dividend payment in 2024.