Belgium's KBC Q1 net profit rises slightly year-on-year, helped by acquisitions

KBC Groep NV

12/05/2026 06:10

Overview

Belgium bank-insurer's Q1 net profit rose slightly yr/yr to EUR 557 mln

Total income benefited from strong net interest income and higher insurance revenues

Company completed acquisitions in Slovakia and Czech Republic, adding EUR 13 mln to profit

Outlook

KBC did not provide specific financial guidance for the current qtr or full yr

Result Drivers

NET INTEREST INCOME - Strong net interest income supported total income in Q1, according to the company

INSURANCE REVENUES - Higher insurance revenues contributed to total income, per company statement

LOAN PORTFOLIO GROWTH - Organic loan portfolio growth of 2% quarter-on-quarter and 7% year-on-year supported results

Company press release: ID:nGNE7pdZLN

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Total Income
EUR 3.23 bln
Q1 EPS
EUR 1.32
Q1 Net Income
EUR 557 mln
Q1 Net Interest Income
EUR 1.67 bln
Q1 Basic EPS
EUR 1.32
Q1 Net Fee Income
EUR 729 mln
Q1 Pretax Profit
EUR 791 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Kbc Groep NV is €123.00, about 5.9% above its May 11 closing price of €116.10

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)