K&H Bank Q1 profit climbs 30%

First-quarter after-tax profit of K&H Bank, the Hungarian unit of Belgiumʼs KBC, rose 30% year-on-year to HUF 12.9 billion. Profits were lifted by higher business volume, increased client numbers and a continued decline in lending costs.

The profit figure figure excludes one-off revenue from a real estate transaction. Including the proceeds from that deal, profit for the period reached HUF 15.1 bln, national news agency MTI reported.

Profits were lifted by higher business volume, increased client numbers and a continued decline in lending costs, K&H said. Net interest revenue rose 7.5% and net revenue from commissions and fees climbed 10.6%.

Stock of client loans stood at HUF 1.412 trillion at the end of March, up 9.6% from 12 months earlier. K&Hʼs market share edged up to 10.4% from 10.1% during the period. Stock of client deposits increased 6.7% to HUF 2.244 tln.

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