KBC : Stable NII and commission income, good cost control, plus a flooding charge
>Conclusion: Stable NII and commission income, good cost control - For 3Q24 we forecast a net profit of € 752m (before € -13m hybrids costs) assuming 18bp loan loss impairments still below the long term average loan loss level. This results includes estimated € 32m after tax flooding non-life claims mostly in the Czech Republic. We expect the Q3 result is driven by a stable qoq net interest income (NII) and a quite stable qoq net commission income. In non-life we expe...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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