KBC released its numbers for Q4 17 this morning. Total income at €1.88bn is 2% above expectations (in line with ours) and total expenses at €1.02bn are 2.3% higher than expected (6.5% above our expectations). Profit before loan losses is therefore 1.5% above expectations at €857m. The CET1 ratio at 16.3% is 40bp higher qoq (15.7% pro forma the impact of IFRS 9 at 40bp and the announced share buy-back programme). More importantly, management is expecting 9% inflation of RWA due
22 Feb 2018
More surprises to come on capital...
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More surprises to come on capital...
KBC Group N.V. (KBC:WBO) | 0 0 0.4% | Mkt Cap: 30,432m
- Published:
22 Feb 2018 -
Author:
Farhad Moshiri -
Pages:
3
KBC released its numbers for Q4 17 this morning. Total income at €1.88bn is 2% above expectations (in line with ours) and total expenses at €1.02bn are 2.3% higher than expected (6.5% above our expectations). Profit before loan losses is therefore 1.5% above expectations at €857m. The CET1 ratio at 16.3% is 40bp higher qoq (15.7% pro forma the impact of IFRS 9 at 40bp and the announced share buy-back programme). More importantly, management is expecting 9% inflation of RWA due