KBC repays 500 mln euros in state aid

BRUSSELS Wed Jan 8, 2014 1:48am EST

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BRUSSELS Jan 8 (Reuters) - Belgian financial group KBC said on Wednesday it will pay back 500 million euros ($680.33 million) of state aid to the Flemish regional government.

The group, which received 7 billion euros in support from the Belgian federal government and the Flemish regional government at the height of the financial crisis, has already repaid the federal state and a first tranche of what it received from the Flemish government.

KBC, which still has 2 billion euros of state aid to repay, said Wednesday's transaction would see its common equity ratio stay above the 9.25 percent set by the Belgian regulator. ($1 = 0.7349 euros) (Reporting by Robert-Jan Bartunek)

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