ProCredit Bank’s good rating confirmed February 5, 2014

procreditThe international rating agency Fitch Ratings has once again upheld ProCredit Bank Macedonia’s long-term credit rating of “BB+” and raised the bank’s individual viability rating from “b” to “b+”.

This upgrade is based on the high quality of the bank’s assets and the low level of loans overdue by 90 days or more, which since end-2010 have stayed within an acceptable range of 2%-3% and have thus been consistently better than the banking sector average.

ProCredit Bank’s long term rating is based on its favourable business results, the high quality of its loan portfolio and the relatively low level of arrears compared with the banking sector average, as well as on the bank’s solid capital adequacy, its high level of liquidity, its diversified deposit base and the support it receives from its shareholders, especially ProCredit Holding, based in Frankfurt, Germany.

Since 2005, Fitch Ratings has regularly awarded ProCredit Bank a BB+ rating, which is the highest credit rating that any financial institution in Macedonia can receive.

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

Fitch Ratings is one of the three major rating agencies that independently awards credit ratings based on internationally accepted standards. Credit ratings therefore provide a valuable and comparable overall assessment of the reliability and stability of institutions operating in the same macroeconomic environment.

Category: Member News