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September 02, 2015 7:47 AM ET

Banks

Company Overview of Kereskedelmi és Hitelbank Zártköruen Muködo Részvénytársaság

Company Overview

Kereskedelmi és Hitelbank Zártköruen Muködo Részvénytársaság provides various banking products and services to retail clients, private and small enterprises, and medium and large corporations in Hungary. It accepts various deposits products, including term, money market, savings, retail FX account, and corporate current accounts; and offers housing and equity loans, investment loans, agricultural loans, guarantees, medium- and long-term export financing loans, and trade financing loans, as well as short, medium, and long-term loans. The company also provides asset-based financing products, such as vehicle financing, machinery and equipment financing, and fleet management or fleet leasing; an...

Lechner Ödön fasor 9

Budapest,  

Hungary

Founded in 1987

4,000 Employees

Key Executives for Kereskedelmi és Hitelbank Zártköruen Muködo Részvénytársaság

Chief Executive Officer and Director
Age: 59
Chairman of the Board
Chief Financial Officer
Head of Operations Division and Senior Executive Director
Deputy Chief Executive Officer and Director
Compensation as of Fiscal Year 2015.

Kereskedelmi és Hitelbank Zártköruen Muködo Részvénytársaság Key Developments

K and H Bank Reports Consolidated Earnings Results for the First Quarter of 2015

K and H Bank reported consolidated earnings results for the first quarter of 2015. The company's first-quarter after-tax profit rose almost 10% to HUF 7 billion from the same period a year earlier. Operating profit fell 3.9% to HUF 36.5 billion. Net revenue from interest fell almost 8% to HUF 18.8 billion on the impact of lower margins because of the borrowers relief settlement and the conversion of FX loans into forints.

K+H Bank Reports Earnings Results for the Third Quarter of 2014; Reports Impairment for the Third Quarter of 2014

K+H Bank reported earnings results for the third quarter of 2014. The company booked net income of EUR 39 million in the third quarter, down 9% from the same period a year earlier. Net interest income rose 6% to EUR 72 million and net revenue from commissions and fees climbed 11% to EUR 41 million. The business in Hungary had a EUR 139 million loss in the previous quarter as it booked a provision for compensation it expected to pay under borrowers' relief legislation approved in the summer. The impact of the law was set to come to EUR 183 million, after tax. Impairment was down 15% at EUR 11 million.

The Budapest Municipal Court of Appeals Refers K&H Bank Loan Contract Defense Case to Constitutional Court

The Budapest Municipal Court of Appeals on October 27, 2014 referred a loan contract defense case between K&H Bank and the state of Hungary to the Constitutional Court. Including the decision concerning K&H Bank, seven cases have been referred to the Constitutional Court to clarify whether the law on refunds due from banks to borrowers violates the principle that legislation cannot be applied retroactively. The lender was one of many to appeal a first-instance ruling rejecting its defense of unilateral changes made to loan contracts. Legislation approved in the summer requires lenders to compensate clients for such changes unless they can successfully defend the practice in court.

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To contact Kereskedelmi és Hitelbank Zártköruen Muködo Részvénytársaság, please visit www.kh.hu. Company data is provided by Capital IQ. Please use this form to report any data issues.

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