press releases

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.

K&H Bank recorded an all-time high profit of HUF 41.8 billion in 2017, representing an underlying 18% increase yoy. It realised a net profit of HUF 9.6 billion in the fourth quarter of 2017.  Its loan portfolio market share increased from 10.2% to 10.5% yoy. It gained 60 000 new clients, some 1200 every week, nearly half of which were from the youth segment. K&H’s assets crossed the HUF 3 trillion mark in balance sheet in 2017. K&H Insurance realised an after-tax profit of HUF 2.9 billion in 2017, representing a 3% increase yoy.

The mandate of K&H Bank’s Chairman Béla Singlovics ends on 31 December 2017.  KBC Bank appointed Dr. Elemér Terták as member and new Chairman of the Bank’s Supervisory Board. The appointment has been approved by the National Bank of Hungary. Dr. Elemér Terták assumes his position as from January 1, 2018.

The Presidium of the Hungarian Bankers’ Association gave a lifetime achievement award to Hendrik Scheerlinck, former CEO of K&H Group, current CFO of KBC Group and member of KBC Group’s Executive Committee. Mr. Scheerlinck received the accolade in recognition of his outstanding professional work as Member of the Board of the Hungarian Banking Association, his valuable work as President of the Foreign Banker’s Club, and his professional contributions to the development of the banking sector.