Investor Presentaiton
Lower fee and commission income
KBC
NET FEE & COMMISSION INCOME
in m EUR
479
482
463
451
467
451
441
450
250
Banking 229
237
247
234
244
264
266
services
Asset
management 284
288
306
318
312
290
288
285
services
•
Distribution -72
-72
-77
-89
-77
-83
-89
-100
1Q21
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
ASSETS UNDER MANAGEMENT
in bn EUR
236
228
229
228
220
211
205
206
Investment
47
47
47
45
46
advice
41
40
40
40
Fund-of-Funds
63
Group assets &
23
255
65
66
69
23
23
23
23
52
23
67
62
62
60
60
23
21
19
19
Pension fund
Direct Client
89
92
93
98
94
87
86
87
Money
Highlights
1Q21
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
8
of 74
■ Net fee and commission income (451m EUR)
•
Down by 3% q-o-q and by 6% y-o-y
(on a comparable basis, down by 3% q-o-q and by 9% y-o-y)
Q-o-q decrease was mainly the result of the following:
o Net F&C income from Asset Management Services decreased by 1% q-o-q
(due entirely to lower management fees, partly offset by higher entry fees)
o Net F&C income from banking services increased by 1% q-o-q. Higher payment-
related fees and securities-related fees were partly offset by lower fees from credit
files & bank guarantees and higher fee expenses in Retail (in the Czech Republic)
o Paid distribution costs went up by 12% q-o-q (chiefly higher commissions paid linked
to banking products and increased insurance sales, mainly seasonal)
Y-o-y decrease was mainly the result of the following:
o Net F&C income from Asset Management Services fell by 10% y-o-y
(lower management and entry fees)
o Net F&C income from banking services increased by 6% y-o-y, entirely due to the
consolidation of Raiffeisenbank Bulgaria as of 3Q22 (+17m EUR net F&C income in
4Q22)
o Paid distribution costs rose by 12% y-o-y
(mainly higher commissions paid linked to strong sales of non-life insurance
products)
■ Assets under management (206bn EUR)
•
Increased by 1% q-o-q due almost entirely to the market performance
Decreased by 13% y-o-y due to the negative market performance (-15%), partly
offset by net inflows (+2%)
The mutual fund business has seen net inflows in higher-margin direct client
money this quarter (0.3bn in 4Q22 and 2.9bn EUR in FY22), more than offset by
net outflows in lower-margin fund-of-funds and group assets
Profit & Loss
Capital & Liquidity
Looking forward
BU & FY22 view
Company profile
KBC Strategy
Sustainability
Asset quality
MREL & FundingView entire presentation