KBC : Q3 results better, high growth, increased NII guidance, TP increased
>Conclusion: Q3 results better, high growth, increased NII guidance - The 3Q24 results were a touch better by the 2% higher than expected net commission income and 1.5% better NII. The expenses and solvency were in line with expectations. Also positive was that they increased their NII guidance for FY24 and FY25 somewhat. KBC is expecting a continuing NII growth in 2025 and in 2026 as it has less at the ECB than peers. KBC franchise is growing well at good margins as ...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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