KBC : Earnings, solvency and guidance better than expected
>Conclusion: Earnings, solvency and guidance better than expected - The Q2 earnings were better than expected by better net interest income and expenses. The Solvency was also better than expected being positive for the capital return/SBB end of the year. Further, KBC improved its future revenue and cost guidance in positive sense increasing revenues faster than costs. We remain positive on KBC, Outperform.Q2 earnings better by better NII and expenses - §s...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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