Belgium's KBC booked net income of €63mn at its banking and insurance businesses in Hungary in the second quarter, according to an earnings report published on August 11.
At a group level, KBC booked net profit of €966mn in Q2, up 6% y/y and 13 q/q, bringing H1 figures to €1.85bn, up 38% y/y.
The earnings, all from the banking business at K&H in Hungary, improved from a €12mn loss, produced by the insurance business, in the base period.
Net interest income rose 28% to €127mn, and net revenue from commissions and fees climbed 18% to €66mn.
K&H booked a €19mm charge related to the extension of an interest rate cap on mortgages and SME loans until the end of 2023.
The stock of client loans reached €6.55bn at the end of June, up 24% y/y, and that of deposits edged up 1% to €9.31bn.
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