press releases

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

Guy Libot, former Senior General Manager of Group Finance at KBC Group, replaces David Moucheron as CEO of K&H Group. Guy Libot has a long history of broad international experience in the financial sector, having worked for K&H for four years before. David Moucheron, former CEO of K&H Group, has been appointed CEO of KBC Bank Belgium.