16.12.2016
ProCredit Holding AG & Co. KGaA DE0006223407
DGAP-News: ProCredit Holding AG & Co. KGaA: ProCredit Holding closes sale of Banco PyME Los Andes ProCredit S.A. in Bolivia
DGAP-News: ProCredit Holding AG & Co. KGaA / Key word(s): Miscellaneous
ProCredit Holding AG & Co. KGaA: ProCredit Holding closes sale of Banco PyME
Los Andes ProCredit S.A. in Bolivia
16.12.2016 / 14:08
The issuer is solely responsible for the content of this announcement.
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ProCredit Holding closes sale of Banco PyME Los Andes ProCredit S.A. in
Bolivia
Frankfurt am Main, 16 December 2016 - ProCredit Holding AG & Co. KGaA
(ProCredit Holding) today announced the successful completion of the sale
of Banco PyME Los Andes ProCredit S.A. in Bolivia to Banco Mercantil Santa
Cruz S.A. (BMSC).
Under the terms of the transaction, BMSC has acquired 100% of Banco PyME
Los Andes ProCredit S.A. from ProCredit Holding. All regulatory approvals
for the transaction have been obtained.
Dr. Gabriel Schor, Member of the Management Board of ProCredit Holding: "We
are pleased that we have reached this agreement with Banco Mercantil Santa
Cruz. Since the foundation of the institution in 1992, we played a
pioneering role in serving small and medium-sized enterprises (SMEs) in
Bolivia. Today Banco PyME Los Andes ProCredit is a leading partner for
enterprises in Bolivia. We are very confident that the new ownership
structure will offer excellent prospects for our clients and staff. The
transaction follows our strategic review of selected markets in South
America and further sharpens our business model as 'Hausbank' for SMEs with
a focus on South Eastern and Eastern Europe."
The transaction results in a positive capital impact for the ProCredit
group, increasing its Common Equity Tier 1 capital ratio (fully loaded) to
12.3% as of 30 September 2016, adjusted for the positive effect of the
capital increase of EUR 31.9 million of ProCredit Holding in November 2016
(assuming regulatory recognition) and of the sale of Banco PyME Los Andes
ProCredit S.A. in Bolivia. The closing of the sale results in a release of
the translation reserve, an extraordinary positive earnings impact to be
reflected in the group's Q4 2016 financial statements.
As a profitable, development-oriented commercial banking group for small
and medium-sized enterprises (SMEs), the ProCredit group mainly operates in
the attractive and growing banking markets of South Eastern and Eastern
Europe. The group is headquartered in Frankfurt/Main and is also active in
Germany and South America. The group has a proven track record of
consistently high loan portfolio quality and has been profitable every year
since its creation as a banking group in 2003.
From 2013 to 2015, the ProCredit group increased its return on average
equity (RoAE) from 7.7% to 10.5%. As of 30 September 2016, the group's
total assets amounted to EUR 6.0 billion; the total outstanding loan volume
was EUR 3.6 billion and customer deposits stood at EUR 3.3 billion.
About the ProCredit Group
ProCredit Holding AG & Co. KGaA, headquartered in Frankfurt am Main,
Germany, is the parent company of the international ProCredit group,
comprising banks with a focus on South Eastern and Eastern Europe that have
specialised in serving SMEs. In addition to this strong regional presence,
the group also operates in Germany and South America. The core shareholders
of ProCredit Holding AG & Co. KGaA are the strategic investors Zeitinger
Invest and ProCredit Staff Invest (comprising investment vehicles for
ProCredit staff members), the Dutch DOEN Foundation, KfW and the IFC (World
Bank Group). ProCredit Holding AG & Co. KGaA is supervised, on a
consolidated basis, as the superordinated company of the ProCredit group
pursuant to the German Banking Act by the German Federal Financial
Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht,
BaFin) and by the Deutsche Bundesbank. For additional information, visit:
www.procredit-holding.com.
Contact:
Andrea Kaufmann, Group Communications, ProCredit Holding, Tel: +49 69 95 14
37 138, e-mail: [email protected]
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16.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: ProCredit Holding AG & Co. KGaA
Rohmerplatz 33-37
60486 Frankfurt am Main
Germany
Phone: +49-69-951437-0
Fax: +49-69-951437-168
E-mail: [email protected]
Internet: www.procredit-holding.com
ISIN: DE0006223407
End of News DGAP News Service
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