Investor Presentaiton
KBC
Costs in line with guidance
OPERATING EXPENSES
in m EUR
1,520
1,320
514
Bank tax
424
972
1,025
24
1,078
1,071
47
94
1,067
-23
1,160
15
30
1,145
Operating
expenses
896
942
1,001
1,031
1,007
976
1,044
1Q21
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
BANK TAX SPREAD 2022
in m EUR
TOTAL
Upfront
Spread out over the year
4Q22
1Q22
2Q22
3Q22
4Q22
1Q22
2Q22
3Q22
4Q22
BE BU
0
354
-4
-1
0
0
0
0
0
CZ BU
1
60
-1
0
0
0
0
1
Hungary
13
56
78
0
-14
21
22
22
27
Slovakia
6
0
0
0
0
0
0
Bulgaria
0
12
-2
0
0
O
0
0
Ireland &
1
M
1
0
O
1
1
1
1
Group Centre
TOTAL
15
492
72
-1
0
23
23
23
15
11
of 74
■ FY22 opex excluding bank taxes amounted to 4.17bn EUR, in line with our
guidance of 4.15bn EUR
Operating expenses in FY22 excluding bank taxes, changes in the
consolidation scope, one-offs and FX effect rose by 7% y-o-y due mainly to
higher staff expenses (wage inflation), higher ICT costs, higher marketing and
professional fee expenses
•
FY22 cost/income ratio
54% when excluding certain non-operating items* (55% in FY21)
48% excluding all bank taxes (51% in FY21)
Operating expenses excluding bank taxes went up by 10% q-o-q and by 11%
y-o-y. When excluding the 24m EUR consolidation impact of Raiffeisenbank
Bulgaria in 4Q22, opex excluding bank taxes increased by 9% y-o-y
The q-o-q increase is due mainly to the impact of inflation/wage indexation, higher
ICT costs, seasonally higher marketing and professional fee expenses as well as
higher depreciations, partly offset by less negative one-off costs related to the
sales transaction in Ireland (-5m EUR in 4Q22 versus -15m EUR in 3Q22)
The like-for-like y-o-y increase is due to, among other things, the impact of
inflation/wage indexation, higher ICT costs, higher marketing and professional fee
expenses, partly offset by less negative one-off costs related to the sales
transactions in Ireland (-5m EUR in 4Q22 versus -16m EUR in 4Q21)
Total bank taxes (including ESRF contribution) increased by 23% y-o-y to 646m
EUR in FY22
See glossary for the exact definition
Highlights
Profit & Loss
Capital & Liquidity
Looking forward
BU & FY22 view
Company profile
KBC Strategy
Sustainability
Asset quality
MREL & FundingView entire presentation