Investor Presentaiton
KBC
FY 2022 | Higher NII and NIM
FY22
39
of 74
NET INTEREST INCOME
in m EUR
+16%
5,161
4,451
☐☐ 70
398
428 Insurance NII
Raiffeisenbank Bulgaria
4,663
Banking (incl. Holding)
4,053
2021
2022
■ Net interest income (5 161m EUR)
•
•
Net interest income rose by 16% y-o-y due mainly to:
o Increasing reinvestment yield in all core countries
o Good loan and deposit volume growth
o Increased income related to funding (increased term deposits at better margins
and slightly positive impact of TLTRO3)
o Consolidation of Raiffeisen Bank Bulgaria as of 3Q22 (70m EUR NII in 2H22)
o Higher NII on insurance bond portfolio (due mainly to inflation-linked bonds)
。 Higher netted positive impact of ALM FX swaps
o The appreciation of the CZK versus the EUR
partly offset by:
o Loan margin pressure on the outstanding portfolio in almost all countries
o Less positive impact of charging of negative interest rates on current accounts held
by corporate entities and SMEs and less positive impact of ECB deposit tiering
。 The depreciation of the HUF versus the EUR
Loan volumes increased by 7% y-o-y, while customer deposits excluding debt
certificates and repos rose by 8% y-o-y
■ Net interest margin (1.96%)
Increased by 15 bps y-o-y for the reasons mentioned above and despite an increase
of the interest-bearing assets (denominator)
NET INTEREST MARGIN
in %, calculated excl. the dealing room and the net positive impact of ALM FX swaps & repos
1.81%
+15bps
1.96%
Highlights
2021
2022
Profit & Loss
Capital & Liquidity Looking forward
BU & FY22 view
Organic volume trend
Total loans*
Volume
Growth y-o-y
186bn
+7%
o/w retail
mortgages
82bn
+4%
Customer
deposits**
226bn
+8%
* Loans to customers, excluding reverse repos (and bonds), including Ireland (under IFRS 5) and Raiffeisenbank Bulgaria. Growth
figures are excluding FX, consolidation adjustments and reclassifications.
** Customer deposits, excluding debt certificates and repos, including Ireland (under IFRS 5) and Raiffeisenbank BG.
Company profile
KBC Strategy
Sustainability
Asset quality
MREL & FundingView entire presentation