This summary covers equity investments by ProCredit Holding AG & Co. KGaA (ProCredit) into its subsidiary ProCredit Bank JSC, Ukraine (ProCredit Ukraine). ProCredit has applied for MIGA guarantees of up to EUR17.1 million in mandatory reserves cover for a period of up to 5 years.
ProCredit is parent company headquartered in Germany and operates 12 banking subsidiaries in Southeastern Europe, Eastern Europe, Ecuador, and Germany. ProCredit is a development-oriented banking group with a primary focus on lending to Small and Medium-Sized Enterprises (SMEs). ProCredit's subsidiary banks outside of Germany are required to maintain reserves at the central banks in their respective jurisdictions, based on the volume of customer deposits that these subsidiaries have. Mandatory reserves contribute to ProCredit's overall risk-weighted assets (RWA) at the consolidated level, resulting in less headroom for other assets at a given level of capital.
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