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K&H Bank books after-tax profit of HUF 57.8 bln in 2018

Consolidated after-tax profit of K&H Bank, the Hungarian unit of Belgiumʼs KBC, rose 38% to HUF 57.8 billion last year, CEO David Moucheron said on Thursday, cited by state news agency MTI.

Excluding extraordinary revenue from the sale of real estate and financial instruments, after-tax profit rose 28% to HUF 53.6 bln, Moucheron added. 

Net interest revenue was up 3.3% and net revenue from commissions and fees increased 11.4%.

The bank had consolidated total assets of HUF 3.199 trillion at the end of 2018, up 6% from twelve months earlier.

Client loans rose 7% to HUF 1.497 tln, while client deposits were up 4.3% at HUF 2.395 tln. The rate of non-performing loans was down by 1.3 percentage points at 5.8%.

Loan outlays reached HUF 380 bln last year, of which HUF 250 bln went to the corporate sector. The share of fixed-rate loans among mortgage loans climbed from 48% to 91%. The number of retail clients climbed to 700,000 through 1.3% growth.

The number of clients actively using mobile banking services soared by 66% and stood at 200,000 by the end of the year. The bank meanwhile still operates 212 ATMs.