“K&H, which is one of the most solvent banks in Hungary, is a reliable group with strong liquidity levels and our loan to deposit ratio is one of the best in the Hungarian market,” says CEO Marko Voljc.
The bank aims to increase net profits by 30% year on year over the next three years, and launched a sales effectiveness initiative called Momentum to achieve this objective. While the coming year may prove rather more difficult, the bank started on entirely the right foot, with an eye-catching 176% rise in profits in 2007, to HFl36.5bn ($172.5m), as performance recovered from the downturn in the Hungarian economy in 2006. The bank has also started a massive branch expansion programme, from 160 in 2007, to 210 in 2008, with an eventual target of 320 nationwide.
“We are proud that not only our clients, but also the financial profession as a whole appreciates our progress, developments and products,” says Mr Voljc. “We are confident that relying on our unique advisory method and investment expertise, our full product range and our branch/tied agent-centric multi-channel distribution approach, putting clients first and serving them enthusiastically, will quickly help us realise our vision, and our clients will become even more our leading promoters in the community.”
