press releases

K&H performed well in all areas. Excluding the effect of government measures, the after-tax profit of K&H Bank’s core financial activities went up by 16 percent

The total number of K&H Bank’s clients passed 1 million by end of Q3 2024

• K&H Bank’s after-tax profit came to HUF 106.6 billion in the first nine months of 2024.
• Excluding the effect of government measures, the after-tax profit of the Bank’s core financial activities went up by 16 percent.
• K&H Insurance realised a net profit of HUF 1.2 billion in the first nine months of the year, the business performance was strong, similarly to the Bank’s results: premium income rose by 11 percent, and all business lines are steadily growing.
• The Bank’s credit portfolio expanded by 8 percent compared to the same period of last year, reaching HUF 2,992 billion. The volume of retail mortgage disbursements was about three times higher than this time last year.  
• The volume of deposits placed by clients expanded by 10 percent compared to the first nine months of 2023, while the assets managed in investment funds rose by 35 percent to more than HUF 1660 billion by the end of September.
• The total number of K&H Bank’s clients passed 1 million by end of Q3 2024. K&H Bank has more than 735,000 digitally active customers. More than 90 percent of K&H's mobile banking customers have already contacted Kate, the bank's AI-based digital financial assistant.
• K&H Bank has been named the Best Real Estate Finance Bank 2024 at the international Europa Property CRE Awards and K&H’s mobile bank application got the award for the Best Innovator UX by Visa.  K&H also won the Sustainable Future Award by the Business Council for Sustainable Development in Hungary (BCSDH) for its solution that allows farms to calculate their carbon emissions.

The financial institution performed well in all areas, excluding the effect of government measures, the after-tax profit of K&H Bank’s core financial activities went up by 20 percent thanks to double-digit underlying growth in deposits, investments and lending yoy

Hungary’s economy has six years left to reach the EU target of reducing greenhouse gas emissions by 55%. This requires a joint effort from all economic players, and financial institutions play a major role in helping households and businesses to make the sustainability transition. The 2023 Sustainability Report of K&H shows that the financial institution is helping to create a more sustainable economy through a lending policy focused on renewable energy production, via green investment and retail products, and with unique calculators. Moreover, thanks to the innovative services of K&H, almost everything can be arranged by pressing only a few buttons. 

• K&H Bank’s profit after tax reached HUF 108 billion in 2023
• K&H Insurance posted only a HUF 1.1 billion result due to the windfall tax
• K&H result was influenced by HUF 56 billion negative impact of various government measures (windfall tax, interest rate cap, other bank taxes)
• Bank’s costs rose more than the income, by 14.5 percent and 13 percent respectively, due to increased bank taxes, inflationary costs and growing business
• The Bank’s loan portfolio grew by 10 percent in 2023, reaching HUF 2,829 billion. The volume of new loans granted in 2023 totalled HUF 630 billion. The corporate loan portfolio increased by 13 percent over just one year.
• All K&H clients are enjoying now a new enhanced mobile bank application and voice-command HUF transfer in its digital financial assistant, Kate
• K&H remains committed to sustainability, having been named best ESG bank in Hungary in 2023 by Euromoney Award for Excellence whilst it continues its digital transformation as award winner of Best Digital Bank in 2023 in Hungary as well. Also ranked as market leader in Corporate and Social Responsibility (CSR) and in digital solutions by Euromoney.

The mandate of K&H Bank’s Supervisory Board Chairman, Nomination Committee Chairman and Audit Board Committee member Elemér Terták ends on 30th of April 2023.  KBC Bank appointed Krisztina Horváth as the new Chairman of the Bank’s Supervisory Board, Chairman of the Nomination Committee and member of Audit Committee. The appointment has been approved by the National Bank of Hungary. Krisztina Horváth assumes her position as from 1 May 2023.