Latest news with #netinterestincome
Zawya
5 days ago
- Business
- Zawya
Egypt: The United Bank's consolidated profits up 27% YoY in H1 2025
Arab Finance: The United Bank posted 27% year-on-year (YoY) higher consolidated net profits after tax at EGP 1.570 billion in the first half (H1) of 2025, versus EGP 1.234 billion, according to the financial results. Net interest income increased by 10% to EGP 6.947 billion in H1 2025 from EGP 6.296 billion in H1 2024. Basic earnings per share (EPS) jumped by 27% to EGP 1.27 at the end of June 2025 from EGP 1 a year earlier. Meanwhile, the standalone net profits after tax hit EGP 1.508 billion at the end of June 2025, up 26.9% from EGP 1.188 billion in H1 2024. Non-consolidated net interest income amounted to EGP 6.626 billion in the first six months of 2025, higher by 8.6% YoY than EGP 6.103 billion. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Reuters
6 days ago
- Business
- Reuters
Poland's PKO BP posts 13% profit rise for second quarter
GDANSK, Aug 13 (Reuters) - Poland's biggest bank PKO BP ( opens new tab reported a 13.2% year-on-year rise in its second-quarter profit on Wednesday, driven by a higher net interest income. The largest Polish bank by total assets posted a net profit of 2.66 billion zlotys ($730.7 million) for the quarter, beating market expectations of 2.55 billion zlotys, according to consensus data it had compiled. Its quarterly net interest income grew 21.7% year-on-year to 6.15 billion zlotys, while net fee and commission income fell 0.2% to 1.28 billion zlotys. Net interest margin was at 4.91% in the second quarter compared to 4.95% in the first. The bank said the decline reflected lower interest rates, but was fully compensated by strong volume growth. Poland's Central Bank cut the main interest rate by 25 basis points to 5% in July, citing its expectation for a clear decline in inflation in the coming months and surprising markets which had expected the cost of credit to remain unchanged. While the bank's governor Adam Glapinski said that the cut was not the start of a broader easing cycle, he left the door open to another cut in September. Return on equity (ROE) ratio, a measure of profitability, reached 19.4% at the end of June. Under its strategy until 2027, the bank targets a ROE above 18%. ($1 = 3.6403 zlotys)
Zawya
7 days ago
- Business
- Zawya
Egypt: EG Bank posts 29.1% YoY increase in H1 2025 consolidated profits
Arab Finance: The net profits attributable to the equity holders of Egyptian Gulf Bank (EG Bank) hiked by 29.13% to EGP 1.674 billion in the first half (H1) of 2025 from EGP 1.296 billion in H1 2024, the financials indicated. Basic earnings per share (EPS) increased to EGP 2.93 in H1 2025 from EGP 2.10 a year earlier, while the net interest income jumped to EGP 4.070 billion from EGP 2.609 billion. As for the standalone business, the net profits after tax enlarged to EGP 1.720 billion from EGP 1.233 billion. EPS climbed to EGP 2.93 from EGP 2.10. Non-consolidated net interest income hit EGP 3.987 billion in the first six months of 2025, up year-on-year (YoY) from EGP 2.581 billion. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Reuters
07-08-2025
- Business
- Reuters
KBC soars to pre-2008 level as income forecast hike sweetens quarterly beat
Aug 7 (Reuters) - Belgian bank KBC ( opens new tab lifted its annual net interest and total income forecasts on strong organic loan growth after beating quarterly earnings estimates on Thursday, sending its shares to levels seen before the global financial crisis. The shares rose as much as 6.1% in early trading to their highest level since late 2007. The income forecast hikes come even as regional peers ING ( opens new tab and ABN Amro ( opens new tab have reported declines in the metric for several quarters, although they have flagged signs of a stabilisation on the horizon. Lenders' interest income has been under pressure as slowing inflation in the euro zone has prompted the European Central Bank to cut interest rates, ending a period when banks raked in record-high profits as revenue from interest-bearing assets surged. KBC's quarterly net interest income rose 9% year-on-year to 1.51 billion euros ($1.76 billion), securing a net profit beat at 1.02 billion euros. At the start of the ECB's rate-hiking cycle, the bank took a contrarian stance to most of its peers, locking in long-term positions early and committing less to short-term reinvestments. "At the time that meant lower net interest income, but the moment rate cuts start happening, we would see stable net interest income", CEO Johan Thijs said in February. KBC on Thursday raised its forecast for annual net interest income to 5.85 billion euros from at least 5.7 billion euros previously and hiked its total income growth target to at least 7% from 5.5%. The bank repeated its interest in buying Belgian state-owned insurer Ethias, as the KBC CEO expects the issue of its sale to be cleared by the end of the year or at the beginning of 2026. Ethias' potential sale has long been a point of political contention between its joint owners, the Flemish, Walloon and federal states. "The defence spending comes on top of Belgium's not that comfortable budgetary situation. From that perspective, the assets the government holds can be instrumental," Thijs said on a conference call. The CEO reiterated the bank's M&A ambitions in Central Europe, especially in Romania, where it is in talks with a number of undisclosed parties. ($1 = 0.8565 euros)
Reuters
01-08-2025
- Business
- Reuters
OCBC sees tariff uncertainty lingering, trims 2025 outlook after in-line Q2 profit
SINGAPORE, Aug 1 (Reuters) - Oversea-Chinese Banking Corp (OCBC) said tariff uncertainty was likely to persist despite fresh deals struck by U.S. President Donald Trump, as the bank cut its 2025 net interest income expectations after a 7% drop in second-quarter net profit. OCBC, Singapore and Southeast Asia's second-largest bank, on Friday posted net profit of S$1.82 billion ($1.40 billion) for the April-June period, down from S$1.94 billion a year earlier, matching the mean estimate of nearly S$1.82 billion from three analysts polled by LSEG. The decline was mainly due to lower net interest income. OCBC expected its 2025 net interest income to be lower by a mid-single-digit percentage and projected its net interest margin, a key gauge of profitability, to be in the range of 1.90% to 1.95% versus around 2% targeted in the previous quarter. The bank maintained the rest of its 2025 financial targets. "The uncertainty is still there," OCBC Group CEO Helen Wong said in a briefing after the bank's earnings announcement, referring to the evolving tariff landscape. "There is still China coming up, and last night we see a few more conclusions," she said. "Even if the tariff situation of China has been announced, it doesn't mean that we won't stop looking at the impact, so it is an ongoing process." Wong, the first woman to head the bank, will retire at the end of this year. Tan Teck Long, OCBC's deputy CEO and head of global wholesale banking, will succeed her. Tan said that the full ripple effect of tariffs, such as the high levies on Chinese goods, had not yet played out, but was already creating a surge of Chinese products into other markets and hurting local businesses. However, he added that import-reliant sectors especially in Singapore, such as construction, were benefiting from a decline in the price of raw materials. OCBC is the first Singaporean lender to announce results this earnings season. It follows other major global lenders which reported a mixed bag of results this week. Standard Chartered (STAN.L), opens new tab reported on Thursday a higher-than-expected 26% jump in first-half pretax profit boosted by the strong performance of its wealth and markets businesses. HSBC Holdings (HSBA.L), opens new tab, meanwhile, reported on Wednesday a sharper-than-expected drop in profit in the same period, pressured by write-downs from exposures to a Chinese bank and Hong Kong real estate. Wong said while OCBC did not see significant weaknesses in its portfolio, Hong Kong commercial real estate remained a sector that it was monitoring closely. The bank was working with customers to support them, she added. Despite the profit dip, OCBC's non-interest income grew 5% year-on-year, lifted by better fee and trading income. Its wealth business' assets under management expanded by 11% to a record high of S$310 billion, driven by net new money inflows and positive market valuation. Return on equity fell to 12.3% from 14.2% a year earlier, while its net interest margin slipped to 1.92% from 2.20%. OCBC declared an interim dividend of 41 Singapore cents. Rivals DBS Group ( opens new tab and United Overseas Bank ( opens new tab are scheduled to report their earnings on August 7. ($1 = 1.2974 Singapore dollars)
