KBC: Q1 2021 Results Up on Loan Loss Reversals and Jump in Revenues
KBC Group NV (KBC or the Group) reported a net attributable profit of EUR 557 million in Q1 2021, compared to a EUR 5 million loss for the same period last year. The rebound YoY was due to releases of provisions, a sharp jump in revenues and continued cost reductions. As a result, KBC's reported return-on-equity returned to pre-COVID 19 levels at 16% for Q1 2021, comparing very favourably with the European average.
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