Strong Overall Performance
KBC posted a €546 million result for the quarter, with strong performance in net interest income, fee and commission income, and insurance growth. Net interest income was notably strong, supported by a customer loan increase of 2.43% and a €2.4 billion inflow in customer money.
Record Sales in Investment Products
The first quarter saw a record sales inflow of €2 billion in investment products, marking the best quarter ever for the company in this segment.
Acquisition of 365.bank
KBC announced the acquisition of 98.45% of 365.bank in Slovakia for €749 million, which will position KBC as a top 3 bank in Slovakia with a significant market share of 16%.
Solid Liquidity and Solvency Ratios
KBC maintains a strong liquidity and solvency ratio, with a cost/income ratio of 41% and a credit cost ratio showing significant improvement.
Positive Outlook for Kate
The digital assistant Kate has shown significant adoption, with 5.5 million customers using it daily, contributing to sales and operational efficiency.