KBC: Q2 earnings down 72%
(CercleFinance.com) - KBC has reported Q2 2020 net profit of 210 million euros, against 745 million euros a year earlier, meaning EPS that has almost been quartered to 0.
47 euro. Even though down, this figure nevertheless slightly beat the consensus.
"The result was significantly impacted by the recording of 845 million euros in loan loss impairment charges, the bulk of which related to the potential economic consequences of the coronavirus crisis," said CEO Johan Thijs.
However, the Belgian financial institution's boss says that its solvency remained "very strong, with a common equity ratio of 16.6% on a fully loaded basis, well above the current minimum capital requirement of 7.95%".
Copyright (c) 2020 CercleFinance.com. All rights reserved.