KBC: Q2 2021 Performance Driven by Loan Loss Reversals and Core Revenue Growth
KBC Group NV (KBC or the Group) reported a net attributable profit of EUR 793 million in Q2 2021, compared to EUR 210 million for the same period last year. The improvement year-on-year (YoY) was due to net releases of provisions which offset lower revenues and higher operating expenses. As a result, KBC's reported return-on-equity returned to pre-COVID 19 levels at 15% for H1 2021, comparing very favourably with the European average and confirming the Group’s strong capacity to generate earnings.
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