KBC released its Q1 16 earnings this morning. Revenues are well above expectations whereas costs acted as a drag on the bottom-line. With impairments at -€28m, or €80m lower than expectations, profit before tax is 18% higher than consensus. Even if the fully-loaded common equity tier 1 ratio is 30bp lower than last quarter, it is still comfortably above the required 11.25% (in 2018).
12 May 2016
Quite reassuring on the net interest margin...
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Quite reassuring on the net interest margin...
KBC Group N.V. (KBC:WBO) | 0 0 0.4% | Mkt Cap: 30,432m
- Published:
12 May 2016 -
Author:
Farhad Moshiri -
Pages:
2
KBC released its Q1 16 earnings this morning. Revenues are well above expectations whereas costs acted as a drag on the bottom-line. With impairments at -€28m, or €80m lower than expectations, profit before tax is 18% higher than consensus. Even if the fully-loaded common equity tier 1 ratio is 30bp lower than last quarter, it is still comfortably above the required 11.25% (in 2018).