Report
Steven Gould

KBC : Un T3 2019 solide, mais ne change pas la donne (prudence) à MT

>Opérationnel : le groupe tire bien son épingle du jeu - Au T3 2019, KBC publie un RN légèrement supérieur aux attentes à 612 M€ (+1% vs consensus) et un RAI à 812 M€ (+3% vs consensus). En l’absence de one-off, la performance opérationnelle ‘underlying’ est relativement solide avec :Une bonne tenue des revenus ‘core’ (NII + commissions) malgré un contexte de taux compliqué avec 1/ des revenus d’intérêt (60% du PNB) en ligne avec les attentes à 1.17 Md€ (+2% vs c...
Underlying
KBC Group N.V.

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Steven Gould

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