Based on an announcement from the monetary group
- Okay&H Financial institution’s revenue following tax amounted to HUF 21.4 billion within the first quarter of 2024.
- Okay&H Biztosító recorded a lack of HUF 3.1 billion because of the accounting of additional revenue tax for the entire yr, nevertheless, when it comes to its enterprise efficiency, it carried out effectively, premium earnings elevated by 10 p.c, and all its enterprise divisions are continuously rising,
- these outcomes embrace the adverse pre-tax influence of varied authorities measures (further revenue tax, different financial institution tax) of HUF 38 billion at group degree,
- the financial institution’s revenues elevated by 19 p.c, whereas because of the influence of inflation on prices and the funding in new digital options, working prices (excluding financial institution taxes) elevated by 16 p.c in comparison with the earlier yr,
- the financial institution’s mortgage portfolio elevated by 5 p.c within the first quarter of 2024 in comparison with the identical interval of the earlier yr, reaching HUF 2,872 billion. The amount of latest loans granted within the first three months of 2024 amounted to HUF 134 billion, the company mortgage portfolio elevated by 5 p.c and the residential mortgage portfolio by 7 p.c.
- the quantity of latest mortgage mortgage contracts reached HUF 41 billion within the first quarter of 2024, i.e. greater than 4 instances as many new mortgage loans had been bought as within the first quarter of 2023. Gross sales of latest child loans amounted to HUF 8 billion by the top of the primary quarter of 2024,
- buyer deposits grew by 8 p.c on an annual foundation, their portfolio elevated to HUF 3,791 billion, whereas the belongings managed within the funds elevated by 46 p.c in comparison with the identical interval of the earlier yr, reaching HUF 1,485 billion.
- the federal government bond inventory owned by the financial institution exceeded HUF 1,000 billion, its guide worth elevated by 6 p.c in comparison with the earlier yr, the financial institution nonetheless has favorable liquidity indicators.
- Okay&H Financial institution has greater than 650,000 digitally energetic prospects, two-thirds of latest retail account openings happen on-line, and greater than 500,000 customers have interacted with Kate, the primary voice-based digital monetary assistant,
- the life insurance coverage enterprise grew by 5 p.c yearly, primarily because of the pension insurance coverage department tied to funding items,
- within the non-life insurance coverage enterprise, premium earnings elevated by 10 p.c in comparison with the earlier yr, to HUF 22.0 billion,
- within the house insurance coverage marketing campaign, the insurance coverage firm skilled large curiosity, within the first three weeks of March this yr, extra individuals took out house insurance coverage than in nearly eight months final yr, and on the finish of the primary quarter, their portfolio of house insurance coverage contracts exceeded the extent proven on the finish of the yr by 9 p.c.
Okay&H’s unaudited, consolidated outcomes in line with IFRS HUF billion Q1 2023 Q1 2024 change revenue following tax 12.8 21.4 67% buyer loans 2723 2872 5% buyer deposits 3521 3791 8% portfolio of funding funds 1017 1485 46% working earnings 78 92 .7 19% working prices (with out financial institution tax) -21.2 -24.5 16% high quality of the mortgage portfolio non-performing loans 0.018 0.014 0% mortgage prices -0.006 -0.005 capital and liquidity capital adequacy ratio (financial institution group) 0.161 0.175 1% mortgage/ deposit ratio 0.777 0.761 -2% solvency ratio (Insurer) 2.18 2.23 5% effectivity price/earnings ratio (together with financial institution tax) 0.848 0.768 -8% return on capital 0.12 0.154 3% Supply: Okay&H, Portfolio
Cowl picture supply: Portfolio
