FITCH RATINGS AFFIRMS PROCREDIT BANK ‘BB+’ OUTLOOK STABLE
On October 21,, “Fitch Ratings”, the global ratings agency, awarded ProCredit Bank Macedonia with a rating “BB+” outlook stable. ProCredit Bank is the only bank in Macedonia to receive a rating by “Fitch Ratings”.
The Individual ratings reflect the credit and operational risks associated with the operating environment and the bank' business model. They also reflect pressure on profitability due to increased loan impairment charges, lower margins and tight capital ratios. Asset quality has to date been stronger than at other domestic banks. The Individual ratings also consider the banks' diversified domestic deposit base, satisfactory liquidity and the centralized control and risk management by PCH. The Stable Outlook reflects that of ProCredit Bank’s majority shareholder, ProCredit Holding. The rating present grate achievement of the Bank and positive business perspective. * Fitch Ratings is a global rating agency committed to provide the world’s credit markets with independent and forward looking credit opinions, research, and data. With 50 offices worldwide and covering over 150 countries, Fitch Ratings’ is widely recognized by investors, issuers, and bankers for its credible, transparent, and timely coverage in financial markets. PROCREDIT BANK FOR A third TIME with CERTIFICATE FOR GOOD CORPORATE GOVERNANCE.
Within the frameworks of the activities for implementation of the Declaration zero tolerance for corruption, the NGO “Transparency- Zero corruption” in cooperation with the Chamber of Commerce of Macedonia and Chamber of commerce of North-West Macedonia, carried out a selection of companies with good corporate governance for 2009. This certificate is yet another recognition about the standards and principles for the work of ProCredit Bank that the Bank complies to since the beginning of its operations, aiming at providing a better banking for all. ProCredit Bank was awarder for a third time, which represents a great pleasure but as well big responsibility to improve and advance the techniques for even better corporate governance in the future thus continuing to be a positive example. |
Mitropolit T. Gologanov 42, Floor III, 1000 Skopje
