KBC Group posts 1H2012 net profit of EUR 827 million

13 August 2012 — Vlad BOLDIJAR
kbc1KBC Group ended 1H2012 with an underlying result of to EUR 827 million, compared to EUR 1,186 million for the corresponding period in 2011. Excluding all exceptional and non-operating items, KBC ended the second quarter of 2012 with an underlying net profit of EUR 372 million, compared with EUR 455 million in the previous quarter and EUR 528 million in the corresponding quarter of 2011.

"The second quarter was marked by a good business performance, considerable progress on the divestment front, significant de-risking and a further strengthening of our capital and liquidity position. We recorded EUR 372 million in underlying net profit. Our underlying result has been driven by the good commercial performance of our strategic banking and insurance business model on our home markets in Belgium and Central and Eastern Europe", declared Johan THIJS, Group CEO.

According to the press release, the Belgium Business Unit contributed EUR 492 million to underlying net result in 1H 2012. This was EUR 26 million less than in 1H 2011.

The CEE Business Unit - CSOB and CSOB Pojistovna (Czech Republic), CSOB and CSOB Pojistovna (Slovakia), K&H Bank and K&H Insurance (Hungary), CIBANK and DZI Insurance (Bulgaria) - posted an increase to the underlying net result of EUR 37 million in 1H2012, to EUR 306 million (from EUR 269 million in 1H2011).

At the same time, the Merchant Banking Business Unit recorded a EUR 23 million loss in 1H2012 and the group Centre's result came to EUR 52 million.

See the detailed press release on the 1H2012 results here!

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