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K&H Bank H1 profit climbs 40%

K&H Bankʼs consolidated first-half after-tax profit rose 40% year-on-year to HUF 31.5 billion, CEO David Moucheron said at a press conference on Wednesday, cited by state news wire MTI.   

Excluding one-off revenue from the sale of real estate and financial assets, after-tax profit rose 22% to HUF 27.4 bln, Moucheron noted.

Net interest revenue was up 4.6% and net revenue from commissions and fees increased 12%.

The group had total assets of HUF 3.224 trillion at the end of H1, up 15% from twelve months earlier. The stock of client loans rose 12% to HUF 1.459 tln, while the stock of client deposits likewise increased 12% to HUF 2.329 tln.

The number of retail clients at the bank rose close to 700,000, up 1.4% year-on-year, while the number of clients whose salaries are transferred to their accounts at the bank increased 7.4% to 400,000.

K&H Bank is the Hungarian unit of Belgiumʼs KBC.