KBC : Profit marginally better, SBB in line, FY23 NII guidance less by treasury trade
>Conclusion: Profit better, SBB in line, FY23 NII guidance less by treasury trade - The 2Q23 earnings were marginally better by marginally better commission income, expenses and non life profit. The € 1.3bn SBB was in line with expectations, but still good that they do everything via SBB instead of special dividend. Small issue for the market can be that KBC reduced its FY23 net interest income by € -0.1bn to € 5.6bn as they have set up a derivate treasury trade which...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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