KBC : Q2 2019 operating figures holding up despite pressure on the top line
>Operating figures: revenues (-) vs costs/provisions (+) - KBC reported higher-than-expected Q2 2019 net profit of € 745m (+4% vs consensus) but the pre-tax income figure of € 889m was lower (-4% vs consensus). The quarter was marked by one-off items including a net capital gain of € 82m on the revaluation on the existing stake in CMSS and a more favourable tax rate (approx. 16% vs 25% related to DTA). The underlying operating performance is more mixed with:a com...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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