KBC : Continuing well rising net interest income in Q1 with low loan losses
>Conclusion: Q1 having a rising NII and low loan losses - For 1Q22, we forecast a net profit of € 404m (before € -12m hybrids costs) with continuing well rising NII, stable commission income, higher bank levies and immaterial loan losses. We see qoq a continuing rise of the NII mainly supported by the clearly risen interest rates in the Czech Republic and Hungary where it invests in shorter duration bonds. Support for the share price is that its dividend of € 7.6/shar...KBC Group is a bank-insurance group engaged in providing products and services mainly to retail, private banking, SME and mid-cap clients. Co. focuses on its primary markets of Belgium, the Czech Republic, Slovakia, Hungary and Bulgaria. Co. is also present in Ireland and, to a limited extent, in several other countries to support corporate clients from its primary markets. Co.'s main brands are KBC and CBC in Belgium, CSOB in Czech Republic and Slovakia, K&H in Hungary, CIBANK and DZI Insurance in Bulgaria, and KBC Bank Ireland in Ireland. As of Dec 31 2014, Co. had 1,601 bank branches. In addition, Co. had total assets of Euro245.17 billion.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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