The financial institution closed the semester with an after-tax profit of 7.1 billion HUF.

Coronavirus: the second wave

Half a year after the outbreak of the coronavirus pandemic in the spring, the second wave of the pandemic has arrived. The radical increase in the number of infected is forcing more and more countries to re-impose restrictions, despite the fact that the world economy has not even recovered from the effects of the spring outbreak. According to the posters, the second wave also reached Hungary. Follow our news!

K&H Bank closed the first half of 2020 with an after-tax profit of HUF 7.1 billion, related to the coronavirus epidemic

Contains negative extraordinary items amounting to HUF 22.6 billion

Quote the Portfolio.hu bank accounts.

Despite the high cost of risk, K&H reported a positive net profit in both quarters (HUF 6.5 billion in the first, HUF 0.6 billion in the second) and, in an annual comparison, the profit excluding extraordinary items increased by 12 %. Such elements were the

  • 3,600 million HUF adjustment losses related to the moratorium on payments,

  • and 19 billion HUF for impairment in accordance with IFRS 9 for expected future credit losses caused by the pandemic.

In the first six months of the year, K&H issued a total of HUF 293 billion in loans. The corporate loan portfolio grew 11% in the first half of 2020, the portal reported, citing the bank.

In the first half of 2020, K&H Biztosító made an after-tax profit of 5.5 billion HUF.



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