K&H Bank’s Ratings Affirmed with a Stable O utlook

Ref: HU00420 CRA00- 0 1 28 September 202 1

K&H Bank’s Ratings Affirmed with a Stable O utlook

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Kereskedelmi es Hitelbank (K&H) at ‘BBB’ and ‘A2’, respectively. At the same time, CI Ratings has af firmed K&H’s Bank Standalone Rating ( BSR ) of ‘bbb-’. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s LT FCR is set one notch above the BSR to reflect the moderate likelihood of extraordinary support in the event of need. We consider K&H to be strategically important for KBC Bank N.V. (KBC). The group has held full ownership of the Bank for many years and provides long-term Tier 2 capital support. Based on the group’s strong presence in Central Europe, KBC continues to define Hungary as a key market for…