Fitch Ratings agency increase ProCredit Bank's rating
Evaluation agency Fitch Ratings has revised the rating of ProCredit Bank Romania, the only Romanian bank 100% owned by German shareholders, upwards from BB+ to BBB-. The new rating indicates a good loan portfolio quality as well as a low default risk. Moreover, it underlines the capacity of ProCredit Bank to meet contractual obligations and regulatory requirements on a timely basis.
The higher rating for ProCredit Bank Romania also reflects the capacity and reliability of ProCredit Holding, the bank’s main shareholder, to offer support to the institutions belonging to the group; this has been proved by the assistance provided in the past in terms of liquidity and finance. Furthermore, the important role of the bank in developing small businesses through responsible lending was highlighted, as was the solid risk management structure implemented inside ProCredit Bank Romania. Moreover, the rating of ProCredit Holding, which founded the group which ProCredit Bank Romania is part of, has also been increased from BBB- to BBB.
“The rating increase for ProCredit Bank Romania is a confirmation of the successful results of the actions we have taken over the years. By adopting a responsible lending policy adapted to the particular situation of each and every client and by supporting the development of small and medium enterprises, mainly through financial services designed to promote investment, ProCredit Bank is actively contributing to the development of the local economy, an aspect which is reflected in the current rating given by Fitch” stated Ilinca Rosetti, General Manager of ProCredit Bank Romania.
ProCredit Bank Romania recorded a net profit of EUR 2,017,175 in 2013 according to the audited financial data, demonstrating significant growth compared to 2012. The financial results of ProCredit Bank were also acknowledged at the Top Bankers Gala 2014 event, organised on 24 June by Finmedia. ProCredit Bank received the Most efficient employees and most efficient branches award for small banks.
ProCredit Bank has a network of 28 branches and agencies, which are located in the country’s main cities, and serves a wide range of business and private customers.