KBC Group(KBCSF.PK), a Belgian insurance company, on Thursday registered an increase in net profit for the first quarter, supported by increased net interest income and insurance revenues before reinsurance.
For the three-month period, the company recorded a net profit of 546 million euros, or 1.32 euros per share, higher than 506 million euros, or 1.18 euros per share, posted for the same period last year.
Result before tax stood at 747 million euros as against last year's 680 million euros.
Total income was 2.915 billion euros, up from 2.708 billion euros a year ago.
Net interest income moved up to 1.421 billion euros from 1.369 billion euros in 2024. This increase was due to a combination of a significantly higher commercial transformation result, higher lending income, lower costs related to the minimum required reserves held with central banks, higher net interest income on inflation-linked bonds and higher dealing room interest income.
Insurance revenues before reinsurance stood at 773 million euros, higher than 714 million euros in 2024.
Looking ahead, for the full-year 2025, the Group expects to post net interest income of at least 5.7 billion euros, supported by organic loan volume growth of approximately 4 percent. KBC Group anticipates its annual total income to increase at least 5.5 percent from the previous year.
For fiscal 2024, the company had recorded net interest income of 5.574 billion euros, on total income of 11.167 billion euros.
Further, Johan Thijs, CEO of KBC Group, said: "As from 2025, we will pay a dividend of between 50% and 65% of our consolidated result, 1 euro of which will be paid in November as an interim dividend. We aim to remain amongst the better capitalised financial institutions in Europe."
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