K&H Bank Earnings Climb to HUF 70.8 bln in Q1-Q3

Banking

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The after-tax profit of K&H Bank, the Hungarian unit of Belgium's KBC, rose 129% year-on-year to HUF 70.8 billion in Q1-Q3, the lender said on Monday, according to a report by state news wire MTI.

The stock of client loans climbed 8% to HUF 2.773 trillion in the 12 months to the end of September. The lender's NPL ratio dropped half a percentage point to 1.9%.

The stock of client deposits fell 6% to HUF 3.497 tln.

K&H CEO Guy Libot noted that the bank's client numbers had risen 5% to 821,000 during the period. The number of clients whose paycheques are transferred to their K&H accounts reached 568,000, he added.

CFO Attila Gombás said corporate lending had risen 12%, beating the market average. The stock of credit disbursed in the framework of the state-subsidized Baross Gábor program reached HUF 123 bln, giving K&H 14.5% market share, he added.

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