Earnings Climb 18% for K+H Bank - Now Hungary's Third-Biggest Lender
- 25 Feb 2025 7:32 AM
After-tax profit of K+H Bank, the local unit of Belgium's KBC, had after-tax profit of HUF 129bn in 2024, up 18pc, the lender's CEO, Peter Roebben, said on Monday.
Government measures, such as the windfall profit tax, the bank levy and an interest rate cap, shaved HUF 42bn off earnings, Roebben said.
Net interest revenue increased 12pc to HUF 221bn and net revenue from commissions and fees rose 18pc to HUF 105bn.
K+H Bank had over 1 million clients at the end of the year, up 5pc.
Lending stock reached HUF 3,089bn at year-end, up 9pc from twelve months earlier. New outlays came to HUF 560bn.
Stock of client deposits rose 7pc close to HUF 4,000bn. Assets managed in investment funds climbed 31pc to HUF 1,773bn, while stock of government securities rose 42pc to HUF 1,427bn.
Total assets stood at HUF 6,054bn at year-end, making K+H Bank Hungary's third-biggest lender.
Nik Vincke, who heads K+H group's insurance arm, said revenue from premiums rose 10pc to HUF 74.9bn for general insurance policies and climbed 14pc to HUF 18.9bn for life policies.
Source:
MTI - The Hungarian News Agency, founded in 1881.
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