ADVERTISEMENT

K&H Bank earnings climb 78% in 2021

Banking

Wikimedia Commons

The after-tax profit of K&H Bank, a unit of Belgium's KBC, rose 78% to HUF 75 billion last year, CEO Guy Libot told journalists on Wednesday, according to a report by state news wire MTI.

K&H Bank freed up HUF 3 bln in provisions last year after booking impairment of HUF 29.6 bln in 2020 because of the repayment moratorium and pandemic risks, Libot said.

Net interest revenue increased 21% to HUF 109.3 bln.

The lending stock grew 13% to HUF 2.156 tln. Retail loans rose 19%, while the corporate loan book expanded 10%.

New retail outlays climbed 27% to HUF 297 bln.

The stock of client deposits rose 11% to HUF 3.604 tln.

Total assets stood at HUF 5.226 tln at year-end.

K&H's insurance business generated a net profit of HUF 6.7 bln. Revenue from premiums on general insurance policies reached HUF 51.6 bln.

K&H group has around 1.5 million clients.

ADVERTISEMENT

Czech economic confidence improves in May Analysis

Czech economic confidence improves in May

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.