K&H Banking Group recorded a profit of HUF 10.1 billion in 2017Q1
K&H Insurance profit was HUF 846 million in 2017Q1
K&H Banking Group closed 2017Q1 with an after-tax profit of
„Despite the pressure on top line from the low interest rate environment in 2017Q1 K&H posted a solid net profit of HUF 10.1 billion, which represents an 8% increase year-on-year. This good performance is driven by higher business volumes and a growth of our customer base, continued low level of credit costs and lower bank and corporate income taxes. K&H granted HUF 57 billion in new loans in 2017Q1, representing the financing of 684 projects of our SME and corporate and 7160 individual clients. As a result of this strong commercial dynamics our market share in lending increased from 9.8% in March 2016 to 10.1 % in March 2017.” – announced David Moucheron, CEO of K&H Group.
“SME and corporate loans grew by HUF 23 billion, 3% year-on-year. K&H remained one of the most active participants in the FfG Scheme with HUF 57 billion contracted volume in 2017Q1. After phasing-out of FfG program, we will continue to offer attractive, fix-interest rate loan products, which can replace FfG in the market. K&H keeps its established position as the second largest player in the market based on customer loan and deposit volumes. “ - said Attila Gombás, CFO of K&H Group.
Nik Vincke, CEO of K&H Insurance added: “Our 2017Q1 profit was up 1% year-on year to HUF 846 million. Thanks to our customer focused strategy we were again able to outperform the market by growing our non-life gross written premium with 19% year-on-year and our life insurance reserves with more than 7% year-on-year.”
K&H’s unaudited, consolidated results according to International Financial Reporting Standards (
|
HUF billion |
31 Mar, 2016 |
31 Mar, 2017 |
variance |
|---|---|---|---|
|
net profit |
9.3 |
10.1 |
+8.1% |
|
operating profit before provisions and bank tax |
14.6 |
13.0 |
-10.6% |
|
lending |
1255 |
1287 |
+2.5% |
|
deposits from clients |
1892 |
2102 |
+11.1% |
|
AuM in mutual funds |
980 |
793 |
-19.1% |
|
operating income |
36.4 |
35.5 |
-2.4% |
|
operating expenses incl. FTL paid |
-21.8 |
-22.5 |
+3.1% |
|
quality of loan portfolio |
|
|
|
|
NPL |
13.1% |
9.4% |
-3.7% |
|
credit costs |
-0.2% |
-0.1% |
|
|
capital and liquidity |
|
|
|
|
capital adequacy (group) |
15.7% |
14.7% |
-1.0% |
|
loan to deposit ratio |
66.6% |
61.6% |
|
|
solvency ratio (insurance) |
306% |
254% |
|
|
efficiency |
|
|
|
|
cost/income ratio (incl. bank tax) |
65.1% |
67.2% |
+2.1% |
|
cost/income ratio (excl. bank tax) |
59.9% |
63.3% |
+3.4% |
|
ROE |
16.5% |
15.4% |
-1.1% |
contact person
K&H Communications Directorate
- sajto@kh.hu