KBC: BEL 20 leader after better-than-expected Q4

(CercleFinance.com) - KBC reported better-than-expected Q4 results on Thursday, as the Belgian bank benefited from the strength of all its business lines and good cost control.


In the last three months of 2024, the financial group's net profit almost doubled from E677m to E1,116m, exceeding the consensus figure of E1,055m.

The group says it benefited from several factors, namely higher net interest income and income from insurance activities, as well as a sharp rise in net fee and commission income, thanks to an excellent commercial performance.

It adds that its operating expenses increased during the quarter, but remained perfectly in line with its forecasts for FY 2024.

Its fully-loaded common equity ratio stood at 15% at end-2024, a level deemed insufficient to allow for exceptional redistributions according to analysts, who nevertheless consider that the rise in results in Q4 could favor an increase in the remuneration proposed to shareholders.

For 2025, KBC says it is aiming for an annual growth rate of at least 5.5% for total revenues and less than 2.5% for operating expenses excluding banking and insurance taxes.

KBC shares rose over 4% late Thursday morning, posting the strongest gain on the Belgian BEL 20 index.


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