K&H Bank’ s net profit exceeds HUF 50 billion in 2019 and K&H Insurance reaches HUF 5.8 billion net profit in 2019

K&H continues its digital transformation

K&H Bank had a strong financial performance, recording HUF 59.7 billion pre-tax profit in 2019. Net profit was HUF 50.9 billion, a 7% increase yoy in underlying profit. K&H Insurance reached HUF 5.8 billion net profit in 2019, an increase of 28% yoy. K&H continues to focus on investing in its digital transformation and efficiency. K&H has 450 000 digitally active clients. 600 000 K&H clients have a biometric profile.  More than 10 million tasks were performed by robots on 25 processes at K&H Bank and Insurance in 2019.

K&H Bank had a strong financial performance in 2019, recording HUF 59.7 billion pre-tax profit. Net profit was HUF 50.9 billion, a 7% increase yoy in underlying profit.

“Fulfilling its role to finance the Hungarian economy, in 2019 K&H granted a total of HUF 504 billion new loans, a 30% increase yoy. Retail loan new production reached HUF 195 billion including HUF 42 billion baby boom loans, growing by 49% yoy (vs market growing by 47%). Total retail savings grew by 12% (by HUF 258 billion).The number of regular investor clients almost tripled in 2019 from 12 000 to 32 000. The subscription of MÁP+ was HUF 171 billion by 31 December. K&H contracted more than 700 deals in the Funding for Growth Fix Scheme for a total amount of HUF 29.7 billion, representing a market share of 10.6 %. K&H participated in 25% of the corporate bond issues in the program facilitated by MNB,” said Attila Gombás, CFO of K&H Group.

In 2019, K&H also continued its digital transformation focusing on offering innovative and best-in-class customer experience in branches, and through its digital channels, while simplifying its internal processes and investing in its efficiency improvements. For example, more than 600 000 clients, nearly 90% of K&H retail clients, have a biometric profile enabling them to sign 1.7 million documents digitally in branches, saving time for clients and paper for the planet.  60% of branches have fully automated cash services.  216 ATMs make 24-hour cash depositing possible for clients.  K&H has 450 000 digitally active clients, including 380 000 registered mobile bank users. Since the launch of the fully digital cash loan in the mobile app in July,   every 3rd of digital cash loan disbursement is within 5 minutes and almost 2/3 in less than 10 minutes. K&H is also experimenting with robotisation of internal processes, to make them faster, error-free and more efficient. In 2019 more than 10 million tasks were performed by robots on 25 different processes at K&H Bank and Insurance.  K&H is ready to launch DIP on March 2.  Instant payment transactions will be automatically included in the existing account packages, replacing the current domestic electronic payment transactions up to the amount of HUF 10 million, at no additional transaction fee.

“Digital transformation is at the core of our strategy. The number of  innovations launched as first in the market in 2019 demonstrate our commitment to offer our clients the most innovative and best-in-class experience both in the physical and the digital world“- announced David Moucheron, CEO of K&H Group

Nik Vincke, CEO of K&H Insurance added: “In 2019 net profit increased by 28% yoy and reached HUF 5.8 billion. In Non-Life, premium income reached HUF 49.3 billion, growing by 34% yoy. Life brought strong business performance with a 44% yoy growth in regular unit-linked (including pension) and 21% yoy growth in individual risk products. Already 70% of property claims are reported online,helped by our mobile-friendly smart claim notification application and we robotized insurance premium refunding, contributing to processing refund for 67.000 individual clients in 2019.”

K&H Bank’s unaudited, consolidated results according to International Financial Reporting Standards (IFRS) were as follows:

HUF billion

 31 Dec, 2018

31 Dec, 2019


net profit (excl. exceptionals)




net profit




loans to clients




deposits from clients




AuM in mutual funds




operating income excluding exceptional gain on sale of investments




operating expenses incl. FTL paid




quality of loan portfolio








credit costs




capital and liquidity




capital adequacy (banking group)




loan to deposit ratio




solvency ratio (insurance)








cost/income ratio (incl. bank tax)




cost/income ratio (excl. bank tax)








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K&H Communications Directorate

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