KBC : Q1 results somewhat better, commercial sales good, NII/cost jaw positive
>Conclusion: Q1 result somewhat better, FY22 NII/cost jaw to be positive - The 1Q22 results were somewhat better than expected especially driven by net commission income and non life insurance. The CET1 solvency ratio was somewhat less than expected but that was due to more organic loan growth than expected resulting in more NII. It is positive that there was no negative RWA migration. They did not yet change the FY22 NII and cost guidance as they will do that at the ...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.