KBC won't raise debt or capital to repay state aid in June -CEO

BRUSSELS Thu May 16, 2013 6:01am EDT

Related Topics

BRUSSELS May 16 (Reuters) - Belgian financial group KBC will not raise additional debt or equity to meet its goal of repaying 1.75 billion euros ($2.25 billion) of state aid and penalties to the Flemish regional government, its chief executive said on Thursday.

"The intention to pay back the state aid to the Flemish government by June 2013 will be financed out of the current means of KBC," Chief Executive Johan Thijs told a conference call following the group's quarterly results.

KBC reported better than expected quarterly profits as increased deposits and loans in Belgium and the Czech Republic made up for losses in its other international operations. ($1 = 0.7775 euros) (Reporting by Robert-Jan Bartunek; editing by Rex Merrifield)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.