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K&H Bank profit reaches HUF 33.4 bln by end of September

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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.

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