KBC : 9% cash return to shareholders at FY21, a good revenue growth outlook
>Conclusion: Good Q3 results, FY22 revenue rising faster than costs - The 3Q21 results of KBC were somewhat better than we expected. Going forward we see a good 4Q21 result by rising net interest income (NII), good non-life result by the new lockdown rules mid-November, and low loan losses. For FY22 the comparable NII growth by rising interest rates in Czech/Hungary and net commission income growth by asset management and payments will grow about € 113m faster than th...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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