KBC : NII continues to rise, less commission income, larger SBB expected
>Conclusion: Q2 having a rising NII and low loan losses - For 2Q22, we forecast a net profit of € 730m (before € -12m hybrids costs) with continuing well rising qoq NII by Czech Republic, Hungary and now also starting from the Euro area, good non life results, a lower qoq commission income by lower stock markets, higher yoy bank levies by extra levies in Hungary, and immaterial loan losses. The CET1 solvency ratio is enhanced by a Belgian regulatory change, and as a r...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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