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Change of CEO at K&H Group

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.

K&H Bank reports a net profit of HUF 42.3 billion and K&H Insurance a HUF 8.3 billion in 2020

Strong market share increase in loans in all segments

K&H continued delivering its innovations in the banking mobile app with the launch of the K&H+ mobility solution on mobile and a unique instant account opening service.

K&H Bank had resilient financial results in 2020, recording HUF 42.3 billion net profit, a 6% increase yoy on underlying basis excluding the HUF 12.7 billion negativ pre-tax impact of exceptional items. In 2020 K&H Insurance reached a profit after tax of HUF 8.3 billion.

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.