KBC: Q3 net profit down 24% sequentially

(CercleFinance.com) - KBC Group has reported net profit of 601 million euros for Q3 2021, down 24% sequentially, with a one-off negative impact of 319 million euros related to ongoing sales transactions in Ireland.


However, total revenues increased by 2% sequentially to 1.88 billion euros, despite a decline in non-life insurance results (negatively impacted by floods in Belgium) and a seasonal contraction in dividend income.

Excluding non-recurrent and non-operational items (including currency effects and bank taxes), costs remained virtually stable sequentially, the Belgian financial institution added.


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