K&H Bank to close nine branches, invest in online services

Telco

K&H Bank has decided to close nine bank branches in Hungary while investing HUF 6 bln between 2014 and 2017, HUF 1.5 bln y. o. y., into online services in the country, the bank announced yesterday. 

K&H Bank is the Hungarian unit of Belgium's KBC. KBC's first-quarter net profit nearly doubled to €397 mln from a year earlier. Total assets rose 2% in twelve months to HUF 2,502 bln at the end of March, unaudited consolidated IFRS data show.

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