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K&H Bank adjusted profit climbs 7% in 2019

Net profit of K&H Bank, the Hungarian unit of Belgiumʼs KBC, rose 7% to HUF 50.9 billion last year, cleared of extraordinary items, CEO David Moucheron said on Thursday, according to a report by Hungarian news agency MTI.

Image: Wikimedia Commons

K&H Bank had total assets of HUF 3.519 trillion at the end of last year, up 10% from the end of 2018, Moucheron said.

The non-performing loan ratio fell to 4.1% from 5.8%. The retail NPL ratio dropped to 6.9% and the corporate NPL ratio to 2%.

Outlays were up almost 30% at HUF 504 bln. The value of new retail loan contracts jumped 49% to HUF 195 and included HUF 42 bln in state-supported prenatal baby support.

K&H Bankʼs stock of retail savings rose by HUF 258 bln or 12%.

K&H Bankʼs insurance unit had net profit of HUF 5.8 bln last year, up 28%.