press releases

K&H Banking Group had a strong financial performance in 2018, recording HUF 57.8 billion net profit in 2018, a 38% increase yoy. Excluding exceptional gains from property and financial instruments transactions, K&H recorded HUF 53.6 billion net profit, a 28% increase yoy.  In 2018 K&H Insurance reached HUF 4.5 billion net profit, a 57% increase yoy. In 2018 K&H continued its digital transformation. Over 200 000 clients use the K&H mobile bank services actively, 66% more than a year ago. Every 4th client now already has a biometric profile enabling them to sign their documents electronically in branches. K&H launched a fully digital home insurance and the first fully digitalised cash loan service.  K&H has the largest cash-in ATM network with 212 machines and also the largest tellerless branch network in Hungary with 44 units.

K&H Bank realised a net profit of HUF 13.6 billion in the third quarter of 2018, a yoy increase of 40%. Its net profit reached HUF 45.1 billion in the first nine months of 2018, a yoy increase of 40%.  Excluding a HUF 4.2 billion exceptional gain from property transactions and financial instruments, net profit amounted to HUF 40.9 billion, a 27% increase yoy. The profit growth is primarily due to higher business volumes, the increasing number of customers served and favourable credit costs. K&H increased the corporate loan portfolio by 17% and the retail one by 4%, both faster than the market. In the first 9 months of 2018 K&H Insurance reached HUF 3.2 billion net profit, 20% increase yoy.

K&H Banking Group closed 2018H1 with an after-tax profit of HUF 31.5 billion. Excluding a HUF 4 billion exceptional gain from property transactions and financial instruments, net profit amounted to HUF 27.4 billion, a 22% increase yoy. The profit growth is primarily due to higher business volumes, the increasing number of customers served and favourable credit costs. In 2018H1 income excluding gains from property transactions and financial instruments increased by 11.6 % yoy, driven by 4.6 % net interest income and 12 % fee income growth. K&H Insurance reached HUF 2.2 billion net profit in 2018H1, an increase of 63 % yoy.

Over the past years activities of K&H Bank and KBC Securities Hungary have gradually come closer together. Therefore a decision was made whereby as of 1 July 2018 a separate, full-service corporate finance arm will be created within K&H Bank’s Business Banking Division. Following this decision, within KBC Group, corporate finance activities will be provided in Hungary by K&H Bank. Simultaneously, pursuant to the decision of the KBC Group Executive Committee, the similar services of KBC Securities Hungarian Branch Office will be discontinued.

K&H Banking Group closed 2018Q1 with an after-tax profit of HUF 15.1 billion. Excluding a HUF 2.1 billion exceptional gain from a property transaction, net profit amounted to HUF 12.9 billion, a 30% increase yoy. The profit growth is primarily due to higher business volumes, increasing number of customers served and further decreased credit costs. In 2018Q1 income increased by 8% yoy, driven by 7.5% net interest income and 10.6% fee income growth. K&H Insurance reached HUF 1.0 billion net profit in 2018Q1, an increase of 22% yoy.