KBC Books EUR 285 mln Profit in Hungary in 2023

Banking

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Belgium's KBC booked EUR 285 million in profit at its banking and insurance businesses in Hungary last year, an earnings report published on Thursday shows.

Profit climbed 52% from 2022.

Net interest income rose 25% to EUR 529 mln. Net revenue from commissions and fees increased 14% to EUR 260 mln.

Banking and insurance tax came to EUR 238 mln, up from EUR 211 mln in the base period.

Impairment fell to EUR 38 mln from EUR 97 mln.

The balance sheet for the local business shows client loans of EUR 6.764 bln at the end of 2023, up 15% from a year earlier. Stock of client deposits edged up 1% to EUR 9.61 bln.

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