February 13, 2025 10:38 GMT
FINANCIALS: KBC (KBCBB) - Q4 Results
FINANCIALS
Credit neutral. Remains solid.
- Net interest income 2.8% higher than Q3 at 1433m. Fee income is 9.2% up from Q3 at 700m.
- The insurance business income line is 3.2% higher to €764m - driven mostly by life.
- OpEx 6.4% higher on Q3 to €1126. Impairments remain typically low, rising €9m to €78m
- Leads to OpInc that is -5.5% on Q3 at €1,020m, but still leaves OpInc/RWA at 3.4%, which is very good. Net income improves due to timing of tax payments.
- CET1 increases from 14.5% to 15% on retained earnings.
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