KBC Group this morning reported its numbers for Q219. Total income was below expectations (-2%) driven by softer net interest income in the quarter. With total expenses in line, profit before loan losses was 4% below expectations. Despite a change in the economic environment (slowing growth), management is maintaining its financial guidance for 2020. The CET1 ratio at 15.6% was 40bps lower QoQ (acquisition of the remaining stakes in the Czech building savings bank CMSS had a -30bps impact on
08 Aug 2019
Net interest margin under pressure
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Net interest margin under pressure
KBC Group N.V. (KBC:WBO) | 0 0 0.4% | Mkt Cap: 30,432m
- Published:
08 Aug 2019 -
Author:
Farhad Moshiri -
Pages:
3
KBC Group this morning reported its numbers for Q219. Total income was below expectations (-2%) driven by softer net interest income in the quarter. With total expenses in line, profit before loan losses was 4% below expectations. Despite a change in the economic environment (slowing growth), management is maintaining its financial guidance for 2020. The CET1 ratio at 15.6% was 40bps lower QoQ (acquisition of the remaining stakes in the Czech building savings bank CMSS had a -30bps impact on