press releases

• 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 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 has received the “Bank of the Year in Hungary” award at the trade contest of international finance magazine The Banker, a Financial Times publication. Earlier this year K&H has also won the Euromoney “Best Bank in Hungary” Award for Excellence 2019 This is the fourth time that K&H has won both awards in the same year.  Bank of the Year accolade was handed out in London last night.

K&H Banking Group had a strong financial performance in the first 9 months of 2019, recording HUF 37.7 billion net profit, a 5% increase yoy on underlying basis. K&H Bank realised a net profit of HUF 11.4 billion in the third quarter of 2019.  K&H Insurance reached HUF 3.9 billion net profit in the first 9 months of 2019, an increase of 20% yoy. K&H’s innovative end-to-end online cash loan volume in its mobile bank app and e-bank reached 25% of new cash loan production.  K&H Bank was the first on the market this autumn to introduce SRI balanced fund managed in Hungary. By 31 October, K&H baby boom loan application volume amounted to HUF 39 billion.

K&H Banking Group had a strong financial performance in 2019H1, recording HUF 26.3 billion net profit, a 9% increase yoy on underlying basis.  K&H Insurance reached HUF 2.7 billion net profit in 2019H1, an increase of 19% yoy. By 31 August K&H baby boom loan application volume reached HUF 29 billion in July K&H launched the E2E cash loan service in its mobile bank app and e-bank.  K&H received the 2019 Best Bank in Hungary award by Euromoney. K&H was alsonamed the Most Attractive Employer in the financial sector by Randstad, and received the Green Bank award by National Bank of Hungary.