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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.

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.

K&H Banking Group reports underlying profit of HUF 26.3 billion in 2019H1, a 9% increase yoy. K&H Insurance reached HUF 2.7 billion net profit in 2019H1, an increase of 19% yoy

Baby boom loan application volume reached HUF 29 billion by 31 August. On 26th July E2E cash loan was successfully launched. In July K&H was awarded the title Best Bank in Hungary 2019 by Euromoney.

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.