press releases

K&H performed well in all areas. Excluding the effect of government measures, the after-tax profit of K&H Bank’s core financial activities went up by 16 percent

The total number of K&H Bank’s clients passed 1 million by end of Q3 2024

• K&H Bank’s after-tax profit came to HUF 106.6 billion in the first nine months of 2024.
• Excluding the effect of government measures, the after-tax profit of the Bank’s core financial activities went up by 16 percent.
• K&H Insurance realised a net profit of HUF 1.2 billion in the first nine months of the year, the business performance was strong, similarly to the Bank’s results: premium income rose by 11 percent, and all business lines are steadily growing.
• The Bank’s credit portfolio expanded by 8 percent compared to the same period of last year, reaching HUF 2,992 billion. The volume of retail mortgage disbursements was about three times higher than this time last year.  
• The volume of deposits placed by clients expanded by 10 percent compared to the first nine months of 2023, while the assets managed in investment funds rose by 35 percent to more than HUF 1660 billion by the end of September.
• The total number of K&H Bank’s clients passed 1 million by end of Q3 2024. K&H Bank has more than 735,000 digitally active customers. More than 90 percent of K&H's mobile banking customers have already contacted Kate, the bank's AI-based digital financial assistant.
• K&H Bank has been named the Best Real Estate Finance Bank 2024 at the international Europa Property CRE Awards and K&H’s mobile bank application got the award for the Best Innovator UX by Visa.  K&H also won the Sustainable Future Award by the Business Council for Sustainable Development in Hungary (BCSDH) for its solution that allows farms to calculate their carbon emissions.

The financial institution performed well in all areas, excluding the effect of government measures, the after-tax profit of K&H Bank’s core financial activities went up by 20 percent thanks to double-digit underlying growth in deposits, investments and lending yoy

Hungary’s economy has six years left to reach the EU target of reducing greenhouse gas emissions by 55%. This requires a joint effort from all economic players, and financial institutions play a major role in helping households and businesses to make the sustainability transition. The 2023 Sustainability Report of K&H shows that the financial institution is helping to create a more sustainable economy through a lending policy focused on renewable energy production, via green investment and retail products, and with unique calculators. Moreover, thanks to the innovative services of K&H, almost everything can be arranged by pressing only a few buttons. 

• K&H Bank’s profit after tax reached HUF 108 billion in 2023
• K&H Insurance posted only a HUF 1.1 billion result due to the windfall tax
• K&H result was influenced by HUF 56 billion negative impact of various government measures (windfall tax, interest rate cap, other bank taxes)
• Bank’s costs rose more than the income, by 14.5 percent and 13 percent respectively, due to increased bank taxes, inflationary costs and growing business
• The Bank’s loan portfolio grew by 10 percent in 2023, reaching HUF 2,829 billion. The volume of new loans granted in 2023 totalled HUF 630 billion. The corporate loan portfolio increased by 13 percent over just one year.
• All K&H clients are enjoying now a new enhanced mobile bank application and voice-command HUF transfer in its digital financial assistant, Kate
• K&H remains committed to sustainability, having been named best ESG bank in Hungary in 2023 by Euromoney Award for Excellence whilst it continues its digital transformation as award winner of Best Digital Bank in 2023 in Hungary as well. Also ranked as market leader in Corporate and Social Responsibility (CSR) and in digital solutions by Euromoney.

The mandate of K&H Bank’s Supervisory Board Chairman, Nomination Committee Chairman and Audit Board Committee member Elemér Terták ends on 30th of April 2023.  KBC Bank appointed Krisztina Horváth as the new Chairman of the Bank’s Supervisory Board, Chairman of the Nomination Committee and member of Audit Committee. The appointment has been approved by the National Bank of Hungary. Krisztina Horváth assumes her position as from 1 May 2023.

Financial institutions have an important role to play in the transition to sustainability, not only through their own operations but also through the loans and investment opportunities they provide to households and businesses to drive the low-carbon economy. K&H's Sustainability Month has also raised awareness of the importance of protecting the environment and is contributing to an innovative future with digital financial solutions, according to the K&H Group Sustainability Report 2022.

The bank's profit after tax is down by 48% to HUF 31 billion in the first three quarters of 2022 from HUF 59 billion in the corresponding period of 2021 after recording HUF 55 billion extra cost to mitigate the effects of the crisis for the households and businesses.  Similarly, the net profit of K&H Insurance dropped to HUF 1.8 billion in the first three quarters of the year. The bank's total loans increased by 24% year-on-year; deposits grew by 14% yoy.  

• the Bank's profit after tax decreased to HUF 31 billion in the first three quarters of 2022 from HUF 59 billion in the corresponding period of 2021, down by 48%, due to the extra bank tax and other crisis related measures and impacts
• similarly, the net profit of K&H Insurance dropped to HUF 1.8 billion in Q1-Q3 2022 from HUF 4.8 billion in the corresponding period of 2021 windfall tax
• K&H's total loan portfolio increased by 24% to HUF 2562 billion, with new loan production (Retail and Corporate) reaching HUF 517 billion in (in the first three quarters of 2022)
• K&H managed to improve its market position in both retail and corporate lending in Q3
• deposits increased by 14 yoy % to HUF 3710 billion
• K&H's commitment to sustainability continues with the introduction of measurable targets for reducing future CO2 emissions
• K&H continues its digital transformation by introducing Kate, its digital personal assistant

The Bank's underlying profit increased by 26% to HUF 73.9 billion last year. K&H Bank's profit after tax rose from HUF 42 billion in 2020 to HUF 75 billion in 2021. The 2020 profit had been reduced by impairments of HUF 30 billion primarily due to the pandemic related expected loss and modification loss on moratorium (while in 2021 HUF 3 billion impairment was released). The net profit of K&H Insurance reaches HUF 6.7 billion in 2021.

• K&H Bank's total assets exceed HUF 5,000 billion in 2021
• K&H's total loan portfolio increased by 13% to HUF 2,156 billion, while the volume of new loans reached HUF 608 billion
• Income went up by 13%
• K&H's range of services was further expanded with Green Home loans and Széchenyi GO cards
• Digital transformation continued: K&H was the first financial institution to introduce an investment fund determined with the help of Artificial Intelligence-controlled models, and K&H has the most diverse range of smartwatch payment options
• K&H's commitment to sustainability remains unbroken: by 2021 K&H achieved full carbon neutrality in its own operation

K&H Bank reported a net profit of HUF 59 billion, while K&H Insurance posted a net profit of HUF 4.8 billion for the first nine months of 2021. The Bank’s underlying profit grew by 30% driven by increasing loan and deposit volumes. 

• K&H’s total loan portfolio grew by 11% to HUF 2,071 billion, while new loan production reached HUF 444 billion 
• Deposits volume grew to HUF 3,254 billion up by 12% and investment funds grew to HUF 744 billion up by 14%
• K&H further improved its services: green loan was launched and Széchenyi GO card is available 
• As many as 85% - i.e. 600 thousand clients - of K&H’s customers are digitally active
• Digital transformation continued: K&H was the first to launch an investment fund whose assets are determined with the help of AI-controlled models, also K&H offers the widest range of smartwatch payment  
• K&H’s commitment  to sustainability continues: it is to  achieve full carbon neutrality  of its own operation in 2021

K&H Bank closed H1 2021 with a net profit of HUF 37.4 billion and K&H Insurance booked a net profit of HUF 4.2 billion.

• The bank’s underlying profit grew by 22% year-on-year and reached HUF 31.2 billion
• K&H’s total loan portfolio grew by 13% to HUF 1,875 billion and new retail loan production reached  HUF 150 billion growing by 44% 
• K&H has continued its digital transformation in innovation:  40% of account opening is through K&H instant account opening application and K&H Insurance launched instant electronic green card service for MTPL clients
• K&H remains one of the market leaders in the financing of renewable energies, whose volume reached HUF 100 billion by the end of June 2021