...Support-Driven IDRs: The IDRs and Support Rating of ProCredit Bank (Kosovo) (PCBK) reflect the likelihood of support from its parent, ProCredit Holding AG & Co. KGaA (PCH; BBB /Stable). The support considerations take into account the majority ownership, common branding, strong parental integration and a track record of previous support. However, the extent to which such support can be factored into PCBK's IDRs is constrained by Fitch Ratings' assessment of risks relating to Kosovo. Difficult Operating Environment: PCBK's Viability Rating (VR) takes into account the high risks from the operating environment that weigh on the bank's medium-term growth prospects and leave the bank's performance, asset quality and potentially capitalisation vulnerable to domestic market shocks. Dominant Franchise Underpins Performance: PCBK is Kosovo's largest bank with leading market positions in loans (market share of 24% at end-1H14) and deposits (27%). It should be reasonably well positioned compared to...
