KBC : Q3 results in line, new conservative FY24 NII guidance less than expected
>Conclusion: Q3 in line, new conservative FY24 NII guidance less than expected - The 3Q23 results were quite in line with our expectations. KBC new FY24 net interest income (NII) guidance was about 5% less than we (and the market) expected but they are using quite conservative assumptions in this new guidance. Further they expect a € 0.3bn one-time tax benefit in FY24. It was clear that for the banks the higher interest margins would return back to long term more aver...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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