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As a consequence of the government measures to mitigate the effects of the crisis for the households and businesses K&H Bank and Insurance recorded HUF 55 billion extra cost

K&H Bank’s profit is down by 48% to HUF 31 billion in the first 9 months of the year yoy

The bank's profit after tax is down by 48% to HUF 31 billion in the first three quarters of 2022 from HUF 59 billion in the corresponding period of 2021 after recording HUF 55 billion extra cost to mitigate the effects of the crisis for the households and businesses.  Similarly, the net profit of K&H Insurance dropped to HUF 1.8 billion in the first three quarters of the year. The bank's total loans increased by 24% year-on-year; deposits grew by 14% yoy.  

  • the Bank's profit after tax decreased to HUF 31 billion in the first three quarters of 2022 from HUF 59 billion in the corresponding period of 2021, down by 48%, due to the extra bank tax and other crisis related measures and impacts
  • similarly, the net profit of K&H Insurance dropped to HUF 1.8 billion in Q1-Q3 2022 from HUF 4.8 billion in the corresponding period of 2021 windfall tax
  • K&H's total loan portfolio increased by 24% to HUF 2562 billion, with new loan production (Retail and Corporate) reaching HUF 517 billion in (in the first three quarters of 2022)
  • K&H managed to improve its market position in both retail and corporate lending in Q3
  • deposits increased by 14 yoy % to HUF 3710 billion
  • K&H's commitment to sustainability continues with the introduction of measurable targets for reducing future CO2 emissions
  • K&H continues its digital transformation by introducing Kate, its digital personal assistant

Active role in financing the economy: K&H's total assets exceed HUF 5,000 billion

Profit growth was driven by lending in 2021, underlying profit increases by 26%

The Bank's underlying profit increased by 26% to HUF 73.9 billion last year. K&H Bank's profit after tax rose from HUF 42 billion in 2020 to HUF 75 billion in 2021. The 2020 profit had been reduced by impairments of HUF 30 billion primarily due to the pandemic related expected loss and modification loss on moratorium (while in 2021 HUF 3 billion impairment was released). The net profit of K&H Insurance reaches HUF 6.7 billion in 2021.

  • K&H Bank's total assets exceed HUF 5,000 billion in 2021
  • K&H's total loan portfolio increased by 13% to HUF 2,156 billion, while the volume of new loans reached HUF 608 billion
  • Income went up by 13%
  • K&H's range of services was further expanded with Green Home loans and Széchenyi GO cards
  • Digital transformation continued: K&H was the first financial institution to introduce an investment fund determined with the help of Artificial Intelligence-controlled models, and K&H has the most diverse range of smartwatch payment options
  • K&H's commitment to sustainability remains unbroken: by 2021 K&H achieved full carbon neutrality in its own operation

K&H Bank and K&H Insurance report net profits of HUF 59 billion and HUF 4.8 billion in Q3 2021, respectively

Ratio of digitally active K&H clients reaches 85%

K&H Bank reported a net profit of HUF 59 billion, while K&H Insurance posted a net profit of HUF 4.8 billion for the first nine months of 2021. The Bank’s underlying profit grew by 30% driven by increasing loan and deposit volumes. 

  • K&H’s total loan portfolio grew by 11% to HUF 2,071 billion, while new loan production reached HUF 444 billion 
  • Deposits volume grew to HUF 3,254 billion up by 12% and investment funds grew to HUF 744 billion up by 14%
  • K&H further improved its services: green loan was launched and Széchenyi GO card is available 
  • As many as 85% - i.e. 600 thousand clients - of K&H’s customers are digitally active
  • Digital transformation continued: K&H was the first to launch an investment fund whose assets are determined with the help of AI-controlled models, also K&H offers the widest range of smartwatch payment  
  • K&H’s commitment  to sustainability continues: it is to  achieve full carbon neutrality  of its own operation in 2021

K&H Bank reports a net profit of HUF 37.4 billion and K&H Insurance books a net profit of HUF 4.2 billion in 2021H1

82% of K&H’s customer base is already digitally active

K&H Bank closed H1 2021 with a net profit of HUF 37.4 billion and K&H Insurance booked a net profit of HUF 4.2 billion.

  • The bank’s underlying profit grew by 22% year-on-year and reached HUF 31.2 billion
  • K&H’s total loan portfolio grew by 13% to HUF 1,875 billion and new retail loan production reached  HUF 150 billion growing by 44% 
  • K&H has continued its digital transformation in innovation:  40% of account opening is through K&H instant account opening application and K&H Insurance launched instant electronic green card service for MTPL clients
  • K&H remains one of the market leaders in the financing of renewable energies, whose volume reached HUF 100 billion by the end of June 2021

K&H Bank reports a net profit of HUF 12.6 billion and K&H Insurance a HUF 2.6 billion net profit in 2021Q1

Strong growth in retail lending and increasing market shares - K&H continues innovations by launching instant account opening and Google Pay

K&H Bank recorded HUF 12.6 billion net profit and K&H Insurance reached a net profit  of HUF 2.6 billion in 2021Q1.
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