KBC Group (KBCSF.PK), on Thursday, reported a Q4 net profit of EUR 677 million versus EUR 727 million last year. On a per share basis, earnings dropped to EUR 1.59 from EUR 1.71 earned a year ago.
Net interest income decreased 4% to EUR 1.36 billion from EUR 1.42 billion in the prior year period. The net interest margin for the quarter under review amounted to 1.99%, down 5 basis points on the previous quarter and 11 basis points on the year-earlier quarter.
The year-on-year decrease was attributable primarily to lower lending income, the absence of a TLTRO impact, the sale of the remaining Irish portfolio in February 2023, lower net interest income from inflation-linked bonds, the higher funding cost of participations, increased wholesale funding costs and the higher cost related to the minimum required reserves held with the central banks in most of the core countries.
Further, the company updated its three-year financial guidance. By 2026, KBC expects to achieve a cost/income ratio, excluding bank and insurance taxes, of below 42% and a combined ratio of a maximum 91%.
KBC projects FY24 net interest income in the range of EUR 5.3 billion - EUR 5.5 billion, supported by an organic loan volume growth of about 3%.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.