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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.

K&H Bank’s 2020Q1 results decrease by 47% yoy to HUF 6.5 billion due to one-off impact of COVID-19 pandemic

K&H Insurance reaches HUF 2.5 billion net profit in 2020Q1 K&H Bank’s capital and liquidity position remains strong

  • 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’ s net profit exceeds HUF 50 billion in 2019 and K&H Insurance reaches HUF 5.8 billion net profit in 2019

K&H continues its digital transformation

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 was awarded both Bank of the Year and Best Bank in Hungary 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 reports a net profit of HUF 37.7 billion and K&H Insurance a HUF 3.9 billion in the first 9 months of 2019

K&H’s innovative fully online cash loan in mobile app and e-bank reached 25% of new cash loan production in September. K&H Bank was the first on the market this autumn to introduce Sustainable and Responsible Investment (SRI) balanced fund managed in Hungary.

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.