KBC reported a net profit of €1.02 billion in the second quarter of this year, surpassing analysts’ expectations of €927.5 million as surveyed by Bloomberg.
This figure represents a 10% increase compared to the €925 million recorded in the second quarter of 2024.
KBC’s total revenues reached €3.04 billion, marking an 8% year-on-year growth and exceeding analysts’ average forecast of €2.95 billion. Approximately half of this revenue stemmed from net interest income, which rose by 9% from the same period last year to €1.51 billion. Insurance income also grew by nearly 9%, reaching €788 million.
KBC has now revised its forecast for net interest income growth for the full year 2025, projecting an increase of 7%, up from the initial estimate of 5.5%.
“We achieved an excellent net profit in the second quarter,” said KBC CEO Johan Thijs. “Our operations were firing on all cylinders across all countries. Compared to the previous quarter, our total revenues benefited from several factors, including a strong rise in net interest income, higher insurance income, improved trading and fair value gains, and a seasonal peak in dividend income.”
KBC’s loan portfolio grew by 2% from the previous quarter and by 7% compared to the second quarter of the previous year. Customer deposits also increased by the same percentages. Additionally, KBC observed that customers shifted maturing term deposits into savings accounts during the second quarter.
