Belgian universal multi-channel bank-insurer KBC booked a EUR 30 million first-quarter loss at its banking and insurance business in Hungary as a windfall profit tax weighed, the lender said in an earnings report released on Tuesday.
KBC booked EUR 215 million in banking and insurance taxes at the business – the full-year amount – up from EUR 128 million in the base period, when net income reached EUR 35 million.
Net interest income rose 7% to EUR 154m and net revenue from commissions and fees increased 7% to EUR 87 million.
Impairment reached EUR 12 million, rising from nil in the base period.
Stock of client loans at K+H Bank, KBC's local bank in Hungary, climbed 17% to EUR 8.199 billion. Client deposits rose 12% to EUR 11.309 billion.
In international markets – which include Hungary – KBC profits fell from EUR 135 million to EUR 99 million in the first quarter of this year. In this segment, profits stood at EUR 205 million in the final quarter of last year. Within this, profits amounted to EUR 45 million in Slovakia and EUR 84 million in Bulgaria.
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