Q1 2026 Kbc Groep NV Earnings Call Transcript
Key Points
- KBC Groupe NV (KBCSF) reported a strong return on tangible equity of 16% for the first quarter of 2026, totaling EUR557 million.
- Customer loans and deposits showed robust growth, with a 1.6% increase in lending and EUR5.4 billion in customer money inflows.
- Net interest income increased by 4% quarter-on-quarter and 18% year-on-year, driven by strong commercial transformation results.
- The solvency position remains solid with a CET1 ratio of 14.4% and a Solvency 2 ratio of 231%.
- The company's digital assistant, Kate, has been widely adopted, with 6.1 million customers using it regularly, contributing significantly to productivity gains.
- The geopolitical turmoil, particularly the conflict in the Middle East, creates uncertainty and potential volatility in financial markets.
- The introduction of a new windfall tax in Hungary resulted in a significant financial impact of EUR134 million.
- Net interest income guidance remains conservative due to the uncertain macroeconomic environment.
- There is margin pressure on certain products, affecting overall commercial margins.
- The autonomy rate of the digital assistant, Kate, has decreased slightly due to more complex customer inquiries that are not fully automated.
Good morning, ladies and gentlemen, and welcome to the conference call of KBC group earnings release first-quarter 2026. (Operator Instructions)
I would now like to turn the floor over to Kurt De Baenst, General Manager, Investor Relations. Please go ahead. Thank you.
Thank you, operator. Also from my side, a very good morning to all of you from the headquarters of KBC in Brussels, and welcome to the KBC conference call. Today is Tuesday, May 12, 2026, and we are hosting the conference call on the first-quarter results of KBC.
As usual, we have Johan Thijs, Group CEO with us as well as group CFO, Bartel Puelinckx, and they will both elaborate on the results.
As such, it's my pleasure to give the floor to our CEO, Johan Thijs, who will quickly run you through the presentation.
Thank you very much, Baenst also
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