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K&H Trade Finance Service Receives International Award

K&H has earned the recognition of international financial magazine ‘Global Finance’ and was named winner of the “Best Trade Finance Provider in Hungary” award for the eighth time.

K&H Bank reports a net profit of HUF 31.7 billion and K&H Insurance a HUF 7 billion in the first 9 months of 2020
Sustained 16% increase in lending for the first 9 months yoy driven by the economic rebound in Q3

K&H continues delivering digital innovations with the launch of the K&H+ mobility solution

K&H Bank had resilient financial results  in the first 9 months of 2020, recording HUF 31.7 billion net profit, a 11% increase yoy on underlying basis excluding the HUF 11.2 billion negative pre-tax impact of exceptional  items.

In the first 9 months of  2020, K&H Insurance reached a profit after tax of HUF 7  billion.

  • In the first nine  months of the year, K&H provided a total of HUF 457 billion new loans and its total loan volume  increased by 16% yoy reaching HUF 1,863 billion driven by strong Q3.  
  • Transactional turnover in Q3  recovered from its bottom in Q2.  Strong business volumes have been driven  by the economic rebound of Q3, while a new slowdown is expected in Q4 due to the 2nd wave of the pandemic. 
  • Retail loans new production market share increased to 13.6% in Q3 (vs. 10.0% in Q32019).  
  • K&H has so far contracted Funding For Growth Hajrá loans in the value of HUF 130 billion. 
  • K&H is continuing its digital innovations by launching K&H+, offering a mobility solution in its mobile bank app, automatically available to more than 460 000 mobile bank users.

K&H Bank generates a net profit of HUF 7.1 billion in H1 2020
Despite high credit costs related to the expected future credit losses due to the pandemic, positive net result reported in both quarters

The net profit of K&H Insurance reaches HUF 5.5 billion in H1 2020

K&H Bank closed H1 2020 with net profits of HUF 7.1 billion including HUF 22.6 billion Covid-19 related exceptional negative items. Despite high credit costs, positive net result was reported in both quarters (Q1 2020: HUF 6.5 billion, Q2: HUF 0.6 billion). K&H Bank’s underlying profit increased by 12% yoy. In H1 2020, K&H Insurance reached a profit after tax of HUF 5.5 billion. In the first six months of the year, K&H provided a total of HUF 293 billion in new loans.  K&H continues its digital transformation and investments during Covid-19 pandemic. K&H is the first on the Hungarian market to offer fully digital, automated Home, Travel and MTPL insurance in a bank mobile application.

K&H Bank’s 2020Q1 results decrease by 47% yoy to HUF 6.5 billion due to one-off impact of COVID-19 pandemic

K&H Insurance reaches HUF 2.5 billion net profit in 2020Q1 K&H Bank’s capital and liquidity position remains strong

  • K&H Bank’s net result including one-off impact (HUF 8.4 billion) of COVID-19 pandemic decreased by 47% yoy,  recording a  HUF 6.5 billion after-tax-profit in 2020Q1. Excluding the one-off impact income grew by 7.7%, and net result by 17.4%.
  • K&H Insurance reached HUF 2.5 billion net profit in 2020Q1
  • K&H Bank remains a stable financial institution with  a strong capital and liquidity position with  HUF 1000 billion liquidity surplus, by April 30  LCR:  187%,  almost double the regulatory minimum and a capital ratio of 16.5% (31 March, 2020)
  • K&H successfully ensured full digital and physical service provision for clients during the restrictions. Use of digital channels accelerated. K&H now has 477 000 digitally active clients (+13% yoy). 
  • Despite a significant slowdown in March as a result of the COVID-19 pandemic, underlying business activity also remained solid in 2020Q1 where lending grew by 16% yoy, and assets under management by 5%

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.