K&H Bank profit reaches HUF 33.4 bln by end of September
K&H Bank had consolidated, IFRS after-tax profit of HUF 33.4 billion in the first three quarters of 2016, up from HUF 28.7 bln in the corresponding period a year earlier, the local unit of Belgiumʼs KBC said yesterday, according to Hungarian news agency MTI.
Operating income before bank levy reductions and provisioning was down 1.1% at HUF 45.4 bln.
The client loan portfolio was up 0.8% at HUF 1.264 trillion, while client deposits were up 14.8% at HUF 1.564 tln.
The ratio of non-performing loans fell from 15.2% to 10.8%.
The capital adequacy ratio at group level improved from 12.8% to 14.9% in Hungary.
Total assets of K&H Bank stood at HUF 2.625 tln, while K&H Insurance had HUF 155.4 bln of total assets at the end of September.
K&H Bank raised its SME loan portfolio by 11% on an annual basis while new mortgage outlays were up by 18% on an annual basis, CFO Attila Gombas said.
K&Hʼs market share in Hungary is up from 9.7% in Q3 2015 to 10% in Q3 2016, group CEO Hendrik Scheerlinck said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.