ProCredit (PCZ) investor relations material

Executive summary

• 9M loan portfolio grew 11.9% to EUR 8.7bn and deposits rose 6.5% to EUR 9.7bn; operating income increased 10.6% and profit for the period reached EUR 69.5m.

• Profit attributable to shareholders was EUR 65.4m; 9M ROTE was 8.4% and ROE was 7.9%.

• Income growth outpaced expense growth, improving the 9M cost-income ratio to 68.9%.

Financial highlights

• 9M operating income rose 10.6% to EUR 358.0m; net interest income increased 14.8% to EUR 299.3m, while net fee and commission income fell EUR 2.8m to EUR 68.2m.

• Q3 net interest income reached EUR 108m, up 20% YoY and more than 9% QoQ; quarterly net interest margin rose 19 bps QoQ to 3.6%.

• Operating expenses increased 6.9% to EUR 246.7m, reflecting personnel, IT and depreciation investment; 9M loss allowances were EUR 15.6m.

• Profit for the period rose to EUR 69.5m from EUR 58.2m; EPS was EUR 1.18 before expected AT1 coupons and EUR 1.11 after them.

• More than 80% of deposit growth came from sight and savings accounts; deposits grew 6.5% to EUR 9.7bn.

Outlook and guidance

• FY26 continuing-operations loan growth guidance was raised to 14%-15%, from 12%-15%; the outlook assumes no significant FX volatility.

• FY26 cost-income ratio is expected 2-3 percentage points better than initially anticipated; ROE guidance remains ~7%, including the expected negative Ecuador valuation effect.

• Year-end CET1 guidance is 12.5%-13.0%; the planned dividend payout remains one-third of profit attributable to shareholders.

• 2029 ambitions include a loan portfolio above EUR 10bn, ROE of 13%-14% and a cost-income ratio of ~57%; structural cost of risk is assumed at 30-35 bps.