K&H Hungary records HUF 45.1 bln banking revenue
K&H Bank Group Hungary registered net revenues of HUF 45.1 billion in the first nine months of 2018, with K&H Insurance reporting a net result of HUF 3.2 bln, according to a press release sent to the Budapest Business Journal.
K&H Bank posted corporate credit growth of 17%, and household credit growth of 4%. K&H Bank closed Q3 with a result of HUF 13.6 bln after taxes, a 40% increase year-on-year.
The increase in revenues could be attributed to higher business volume, higher client numbers, and favorable loan expenses, according to the press release.
K&H Insuranceʼs net result of HUF 3.2 bln in the first nine months represents a growth of 20% compared to the corresponding period of last year.
Attila Gombás, K&H Groupʼs chief financial and risk officer, said both corporate credit and household credit growth were above the market average.
"Until the end of September 2018, the value of new credit placements reached HUF 372 bln," said Gombás. "Our loan/deposit indicator grew by 2.8 percentage points due to the increase of activity, to 65% in the last 12 months. Our income grew by 12% in the first nine months of 2018, compared to the same period last year, thanks to net interest income increasing by 3.4% and premiums rising by 12.6%."
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